Key Takeaways: Holding residential property in a Revocable Living Trust guarantees immediate wealth transfer to heirs while completely bypassing costly probate court proceedings. Standard deeds lack asset protection, leaving real estate exposed to a homeowner’s personal lawsuits, divorces, or catastrophic creditor claims. Utilizing a Beneficiary Deed acts as a baseline fallback option, automatically transferring property […]
Key Takeaways: Holding rental real estate in an LLC (Limited Liability Company) wraps the property in a protective shield, isolating rental liabilities and safeguarding your personal assets from tenant lawsuits. Transferring the LLC membership interest directly into a Revocable Living Trust ensures the property bypasses the costly, public probate court process upon your passing. This […]
As estate planning attorneys, we recognize the importance of helping our high-net-worth clients understand the nuances of SLATs in divorce situations.
Whether or not you did any estate planning during your marriage, if you get divorced there are myriad estate planning issues that you will be faced with. Once the divorce is final and a final decree is issued, it’s crucial to update your estate planning documents to reflect your new circumstances and ensure that your […]
