Two divorced people in their late 50s, who live on the same Savannah, Georgia, street, happened to meet last year while walking their dogs. One thing led to another, and ultimately the pair, an accountant and a nurse, married in June.

Though the couple had a small wedding, they have large lives. Not only do they own two separate houses, each valued at more than $400,000, but they also each have two grown children who live on their own.

Right now, their plan is to sell both houses and buy another where they can live together. But before they pool their assets for the purchase, they want to be sure their children are protected financially when one partner dies.

“Love is one thing, and we’re happily married. But our first commitment is also the well-being of our children. They were born long before we married,” the nurse says.

Are you in a second marriage that involves a blended family? And are you planning to buy a home with your present spouse? If so, even before purchasing the new property, you may wish to develop a legally viable plan to ensure that all the offspring receive their fair share of the real estate (and other assets) after the death of one partner.

“If you don’t have a will in place, the courts get to decide what happens to all your stuff. In that situation, the division of your assets can turn out to be very different from what you had in mind,” says Eric Tyson, a personal finance expert and author of “Let’s Get Real About Money!”

Many people assume that estate planning is just for the wealthy. But even those with limited assets who need only a plain vanilla plan should get their intentions down on paper before making a major financial move, such as buying a home, says Lynn Meyers, a veteran estate planning attorney.

“It’s very, very important to have an estate adviser, particularly if you’re in a blended family,” says Meyers, who’s affiliated with the American College of Trust and Estate Counsel (actec.org), an organization of lawyers who specialize in estate planning.

Before you buy a home with your second spouse, Meyers says you’ll want to discuss your intentions on how equity in that property will be divided upon your death. For instance, the two of you should decide if you want your spouse to inherit the property in its entirety or if you want it to pass on to your children.

After you die, you don’t want your children to miss getting the equity from your home just because your plan was done wrong. By the same token, you also don’t want your spouse to be forced to move due to a bad plan.

Although a relatively simple will is sufficient for many couples, estate attorneys say those with children from a previous marriage may wish to establish a “living trust.”

Here are several pointers for couples in blended families who want to create an estate plan before a joint property purchase:

-- Acknowledge the need for expert advice.

Jordan Simon, the co-author of “Estate Planning for Dummies,” is an investment manager, not a lawyer. But he strongly advises people who want an estate plan to hire an attorney to help ensure they get solid advice. This is particularly important if they have children from a previous marriage and plan to buy real estate with their new partner.

“Trying to create your own plan makes doing your own taxes seem like a walk in the park,” Simon says.

Although several books and websites encourage consumers to create their own wills and trusts, Simon says that those who do so risk making mistakes their survivors could live to regret.

Charles Abell, a longtime estate planning attorney, says there’s no such thing as one-size-fits-all estate plan, even for moderate- to middle- income people. And because the laws governing probate differ from state to state, he says it’s critical you choose an attorney licensed to practice in your state.

-- Search for a lawyer through personal recommendations.

“The best way to find a good lawyer is by word of mouth,” says Patricia Annino an attorney and author of “Women & Money: A Practical Guide to Estate Planning.”

Tyson cautions consumers against choosing an estate planning specialist based solely on advertising. He also urges people to avoid picking a lawyer who offers them a free dinner to participate in an estate planning seminar.

“Although they don’t say so, many times these lawyers are really trying to sell you high-priced annuities or insurance products,” Tyson says.

When choosing an estate planning attorney, he encourages you to select someone who concentrates his or her practice in this field.

“Ask them what proportion of their practice is devoted to estate work. The higher that percentage, the better,” Tyson says.

-- Don’t delay your estate planning due to procrastination.

“A surprising number of folks get all the documents drawn up and then refuse to sign them. That’s because some people have a superstitious feeling that after they’ve signed the documents, they’ll die soon after,” Annino says.

She urges people to watch out for emotions that could cause them to avoid moving forward with at least a simple will.

“Don’t let fears about mortality keep you from completing this important step,” Anninoann says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

It was mid-2021 when a PR specialist for the vaccine industry landed a new job in Washington, D.C. His move from Sacramento occurred abruptly, and he needed housing. Hence he quickly chose a one-bedroom condo in the affluent Northwest section of the city.

Given the pandemic-period listings shortage, the man had to compete with rival bidders through an “escalation clause” in his contract offer. Consequently, he believes he overpaid for the property and must now discount the unit to sell it.

“I’m sad about overpaying and having to sell below my cost. But I’m happy the next condo I plan to buy -- with double the square footage -- will probably come with a discount. So the math works out in my favor,” the PR specialist says.

As recent real estate market statistics attest, Americans have an overwhelming preference for detached, single-family homes -- an accelerating trend encouraged by pandemic-era aspirations for a large yard. That trend has resulted in a buyer’s market for many condo units, given weakening demand.

Fred Meyer, a real estate appraiser in Cambridge, Massachusetts, doesn’t know the trade-up buyer in this true story. But he urges caution for the man and all similarly positioned condo buyers.

“One factor you must keep in mind involves some rather steep increases in condo fees. You need to know exactly what these fees come to. Also, you need to expect increases in condo fees -- particularly if the complex you’re buying into is in urgent need of repairs,” Meyer says.

Michael Crowley, an independent real estate broker in Spokane, says, “Don’t overestimate your ability to get top dollar for a condo at a time of economic uncertainty like this one. Remember that all condo buyers must always take into account resale potential.”

He advises buyers to take a systematic approach to the selection of any property -- whether that’s a condo, townhouse or a traditional detached house. Still, he allows that your final selection should include an emotional component that will encourage you to stay on.

“To build wealth in real estate typically depends on having a long tenure in a place. At least five or six years or longer is ideal,” Crowley says.

Here are a few other pointers for condo buyers:

-- Search for an area with a healthy employment base.

The vitality of a local real estate market is tied closely to the employment strength of the area. But as Meyer says, the buyers of condos shouldn’t depend on a single employer keeping the local economy afloat.

“You don’t want to buy in a one-company town that would be badly hurt if that single employer closes. Look for multiple employers,” he says.

How can you investigate the strength of the local economy?

“Search the internet or go to the local chamber of commerce and ask what’s happening to jobs in the area,” Meyer says.

-- Examine data to discover the right condo complex.

Meyer says, “Look at the resale history for the building, going back as (far) as four years. Notice especially the median number of days it takes to sell units in the building. The more days it takes to go from list to sell, the less liquid the building (has).”

Also, be sure to check the reserves of the building -- which translates to the amount of money owners there have set aside for key repairs and renovations.

“If the building needs a new roof and there’s no money for this, all the owners could be hit with a big special assessment. A poorly financed building can become rundown, making it less desirable for future owners,” Meyer says.

-- Think twice about any complex with unusually low fees.

Nearly all condo buildings impose condo fees on their residents. Among other expenses, these monthly charges cover the cost of routine upkeep on a building and its grounds, along with support services -- like a concierge at the front entrance.

Condo buyers sometimes shop for a building with the lowest possible monthly fees to contain expenses. But seeking out a building with rock-bottom fees could be a mistake.

“This is a case where you usually get what you pay for. A place with very low fees might actually lose value due to poor upkeep. And poor upkeep could worsen resale potential down the road,” Crowley says.

-- Avoid any building with a large proportion of renters.

Homebuyer advocates are wary of buildings in which a large percentage of the units have been rented out by their owners.

“Owner occupants feel a natural pressure to ensure that a building is adequately maintained. Renters don’t feel that pressure,” Meyer says.

What percentage of owner-occupants is sufficient? In most cases, Meyer says you’ll want to see more than half the units occupied by owners. However, this rule may not hold in a resort community where seasonal rentals are the norm.

Though it’s wise to avoid a building with a large number of renters, it’s also prudent to avoid one that prohibits owners from renting out their units.

“That’s a huge right to give up -- to be forbidden to rent out your apartment if you want or need to do so down the line,” Meyer says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

An attorney and single dad in his 40s spent several years poring over his finances to determine if he could afford to sell the tiny bungalow he shares with his two teenage sons in Omaha. All three want a larger house with a yard where they could have their own bedrooms and take care of a rescue dog.

“It turns out the only thing stopping us is the sale of our current little place. But that’s a whole lot harder than I expected. We’ve had a few offers, but all came in way too low,” says the father, who debated whether to exit the market in frustration.

One factor that’s keeping the attorney from quitting is that he and his sons have found a nearly new planned community they love in the Omaha neighborhood of Elkhorn. Among the amenities in the new development are a large clubhouse, a gym, a pool and tennis courts.

“Best of all, the community has lots of trails where we could walk the Yorkshire terrier we plan to adopt,” the attorney says.

He’s not alone in wavering on whether to take his current property off the market due to disillusionment. There’s been a substantial recent increase in so-called delistings, the real estate industry’s term for quitting the market.

Jake Krimmel, a senior economist for Realtor.com, the home listing service, says the increase in delistings follows a surge in price reductions, as some sellers with unrealistic price expectations face a softer market with limited buyers. Now more owners would rather wait on the sidelines for the market to strengthen than persevere.

“Unlike past housing cycles where falling prices pressured underwater homeowners to sell, today’s homeowners benefit from record-high levels of home equity, so they have the flexibility to wait it out,” Krimmel says.

The attorney and his sons are anxious to move soon and not defer their dreams. So they’ll keep on trying to get a fair enough sale price for their bungalow rather than wait to sell. To improve their odds, they’re planning to recruit a new listing agent.

Here are a few pointers for sellers on agent selection:

-- Review the work of potential listing agents.

“You need someone you can trust to track your sale to the finish line; someone with the integrity to give you superior customer service,” says Michael J. Connerly, the author of “How to Win With Real Estate.”

As it happens, some listing agents who tout the high volume of their sales are less responsive to their clients than they should be, says Connerly, who sold property for 20 years and limited himself to no more than 10 listings at a time.

Although most agents are dedicated to their seller’s interests, he says some are playing a numbers game. They take lots of listings but don’t give each one the attention it deserves.

A listing agent’s failure to actively market a property can cause it to sit unsold for a lengthy period. Another common reason a home will languish is that it was overpriced at the outset, which leads to stigmatization and typically prolongs the sale.

Connerly says sellers who select a responsive listing agent are more likely to price correctly from the beginning, when the odds of the highest possible return are greatest.

-- Examine a candidate’s track record.

Perhaps the agent you’re planning to hire touts an impressive record of annual sales. Still, this agent might not be the ideal one for you, says Eric Tyson, a personal finance expert and co-author of “House Selling for Dummies.”

Tyson urges prospective sellers to obtain an “activity list” from any agent they’re considering. This should itemize all sales closed in the prior 12 months and should include the property location, as well as the list and sale prices.

“There’s no substitute for the raw data,” Tyson says.

Why is this roster so revealing? Because, as Tyson says, an activity list tells you if the agent is routinely selling homes of a similar type and market value as your property.

“Like professionals in any other field, people in real estate develop a specialty and skills to match,” Tyson says.

-- Look into a candidate’s vacation and travel plans.

Like everybody else, real estate agents enjoy getting away now and then. But it could be unwise to hire an agent who plans a break during the first two to four weeks after your place goes up for sale, when buyer excitement should be at its peak.

Some agents rely on backups when they’re away. But Tyson says this isn’t the ideal option for clients, especially if the agent will be gone for more than two to three days.

It’s unreasonable to expect agents to reveal their travel plans for a full year ahead. But Tyson says you should expect full disclosure about any lengthy absence that would occur within the initial weeks of your listing.

-- Avoid any agent who proves unresponsive.

From the moment your home goes on the market, you’ll need your listing agent to keep you in the loop on your sale.

Why is feedback vital to a successful sale? Because it permits you to make course corrections quickly, even after your property hits the market.

Connerly says one way to help identify a responsive agent is to ask the person’s references if they received regular feedback. Also, before signing a listing agreement, make sure it stipulates how often and under what circumstances your agent will call, email or text you with updates.

“Strong communication is an absolute key to top quality seller representation,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)