Have ever you heard about a family whose kids fought over the real estate after mom and dad died? How come that happens? We’re told that if our real estate properties are held in a trust it keeps the property safe. Yes, that’s true. It keeps it safe from Probate, but it doesn’t keep it safe from your family. Leaving it in the trust for the kids when you are gone is like putting them in business together in the largest asset you own. The problem occurs if you have more than one child. Most tell us that it’s in the trust and it will go to the kids. True, if they can agree. My question to you is… do all your kids think alike, are they all in the same season of life with the same needs and wants? When we leave the property in the trust and expect the kids to agree it could become problematic.
What if you could bless your children today while you are alive to enjoy their appreciation with no cost or taxes imposed on you or your family? Over the last 10 years, we have designed many strategic family plans with their investment properties. With the use of a 1031 exchange, you can bless your kids today while you’re alive and not pay capital gains taxes which enhances the development of Generational Wealth. If you’d like to learn more about how you can remove the burden of an investment property, bless your children and/or grandchildren today and pass on a legacy with no capital gains taxes contact us. We’ll schedule a convenient time to learn more about your properties, your family, and your goals. Once we have a clear understanding we can offer you some Real Estate Planning Strategies that will allow you to create a legacy with your investment properties and create generational wealth.