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The process of estate planning

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Case Scenario: Mr. and Mrs. Brown

Mr. and Mrs. Brown have come to you for advice regarding their estate. They have a question, which is listed below. They would like your advice regarding estate planning, including a will and/or a trust. Prepare an answer to Mr. and Mrs. Brown's question below. Be as detailed as possible and use documented research to support your answer.

The Browns are buying an apartment building. They know nothing about landlord-tenant relationships. Advise them on what they need to know by evaluating the duties, responsibilities, and liabilities of landlords and tenants. Also, explain what type of insurance they need.

Since, the Browns are going to be landlord they must know their duties. In particular, they must give their names and addresses to the tenant, they must provide cans for garbage and make arrangements for the disposal of garbage, they must keep the appliances they have supplied, heating, plumbing and electrical fittings in good condition. The Browns must keep the common areas clean and safe; keep the apartment building in a livable condition. Finally, the Browns must meet the requirements of health and safety building and housing codes.
Similarly the tenants must not make a nuisance, use the apartments in a legal way, pay rent on the first of every month, keep fixtures and appliances in a clean condition, keep the apartments safe and clean, not cause disturbance to neighbors, keep the waste and garbage in the place provided by the landlord and comply with the ...

Solution Summary

The process of estate planning is emphasized.