The Complexities of Co-Owning a Vacation Home
Explore the benefits and challenges of co-owning a vacation home, and how an estate planning attorney can help prevent potential disputes.
March 26, 2024
Pitfalls of Adding a Child to Your Home’s Deed
While adding a child to your home’s deed might seem straightforward to manage your estate, it’s fraught with potential problems and complications. This article reviews the implications and alternatives to adding a child to your home’s deed, with the goal of ensuring your estate plan is effective, efficient, and aligned with your long-term intentions.
February 20, 2024
A QPRT is a unique financial tool
A Qualified Personal Residence Trust (QPRT) is a unique financial tool used in estate planning to reduce the potential estate tax liability by transferring a principal residence or vacation home into a trust. As an irrevocable type of trust, a QPRT allows the grantor to remain in the home for a predetermined term of years, making it a strategic choice for those looking to manage their estate tax effectively. Learn more about QPRTs. In the realm of estate planning, QPRTs serve…
January 31, 2024
Houses make horrible Wealth Transfer Vehicles
Somewhere along the way, homeowners came to believe a non sequitur of sorts, that the “American Dream” includes not only buying a house but also passing that same home on to their children. Financial advisers have largely supported this tactic for passing along generational wealth.
November 16, 2023
Lady Bird Deed is a Tool to transfer Real Property outside of Probate
As Lady Bird deeds grow in popularity, it is important to discuss and understand the benefits and limitations of these deeds.
September 12, 2023
Avoid Pitfalls when Transferring Property to Heirs
Death is inevitable, but dying without an estate plan is not. Estate planning is a must for property owners, no matter how uncomfortable the subject might make you.
August 21, 2023
Life Estate can be a Cost Effective Option
A life estate is a type of property ownership or tenancy that grants an individual the right to use and enjoy a property for the remainder or their life. It gives an ownership interest to someone else.
April 27, 2023
Take Care when using a Self-Directed IRA
An individual retirement account makes it simple to invest in assets like stocks, bonds and exchange-traded funds (ETFs). However, there’s a special type of IRA called a self-directed IRA that lets you own alternative assets like real estate.
March 29, 2023
Consider placing your Home in a Property Trust
If you have a residence you would like to pass onto loved ones after your death, and you’re worried about your home going into probate, you may want to put your home in a property trust.
March 7, 2023
Which Bills are Paid by Estate and which by Beneficiaries?
If you’re set to inherit, you may be wondering what estate expenses are paid by the beneficiary. The answer can depend on what assets are passed on to you when a family member or loved one passes away.
January 24, 2023