3 Essential Tips For Estate Planning With Real Estate

Inman November 28, 2023


3 Essential Tips For Estate Planning With Real Estate

Estate planning is of prime importance for homeowners and their heirs. That’s because of all the assets to be distributed to beneficiaries. Properties are among the largest and most complex — particularly when they’re luxury homes worth millions of dollars. Having a clear procedure for how real estate should be divided and maintained is key to enabling a smoother process for relatives, as well as the courts.

In my experience, clients and their beneficiaries hold many misconceptions when it comes to estate planning with real estate. They believe it will be too complicated. They worry it will be costly. They assume that it’s only the attorneys who win. Those fears are false but can become self-fulfilling prophecies if they’re not proactively addressed.

Ultimately, none of us are here forever, and I’ve always encouraged the homeowners I work with to think beyond their day-to-day. Many of them realize they do want a definitive say in how matters will proceed after they’re gone, and they feel great assurance when a plan is in place — and when they know and trust the players involved. Generally speaking:

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