This is another in a series of blogs on the basics of estate planning. Over the past two weeks, I’ve looked at the insurance, tax, and asset protection considerations involved in transferring real estate into a trust. This week, I’ll touch on funding issues unique to irrevocable trusts, as well as those unique to revocable trusts. Irrevocable Trusts Typically, there are two categories of issues to consider when deciding whether to transfer real estate into an irrevocable trust. Both … [Read more...] about Basics of Estate Planning: What to Know Before Funding Real Estate to a Trust (Part 3 of 4)
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Basics of Estate Planning: What to Know Before Funding Real Estate to a Trust (Part 2 of 4)
This is another in a series of blogs on the basics of estate planning. Last week, I discussed how the transfer of real estate into a trust could trigger issues regarding Homeowner’s Insurance and Title Insurance. There are many other issues to consider. This week, I’ll look at tax and asset protection considerations. Taxes Capital Gains Tax: Transferring a residence to a grantor trust (like a revocable trust) does not interfere with the grantor’s $250,000 (or $500,000 for joint returns) … [Read more...] about Basics of Estate Planning: What to Know Before Funding Real Estate to a Trust (Part 2 of 4)
