Tag: asset protection
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When Parents Won’t Let Go: Micromanaging Homes in Family Trusts
Family trusts can be helpful estate planning tools. A trust can protect a household’s assets, and effectively pass wealth along to family members. Those who receive income or assets from a family trust are called beneficiaries. But some of the people who are supposed to benefit may not entirely appreciate the gesture. They might resent…
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Transferring Your Deed Into Your LLC
Thinking about transferring the deed to your rental property into a limited liability company? Many investors do it. About 17% of investment properties across the country are held in LLCs. Here, we look at reasons to put real estate into an LLC, and how it’s done. And we’ll point to a few more things worth…
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Should a House Be in an Irrevocable Trust?
A home can go into an irrevocable trust. But giving up control over a primary residence is not something most owners want to do. The owner lets go of the “incidents of ownership” and the house goes under a separate tax ID, with taxes filed by a trustee. The owner might continue living in the…
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Don’t Be the Intestate Homeowner: Write Your Will
No homeowner should die intestate. In plain English: Every homeowner needs a will. By now, everyone knows life is fragile. Nobody has forever and a day to put an estate plan down in writing. And if you do leave things hanging, and you do pass away without a will, or without some combination of a…
