Real Property Transfers in Estate Planning: Tax Rules, Transfers in Trust, Community Property, Creditor Rights

Note: CPE credit is not offered on this program

Recording of a 90-minute CLE video webinar with Q&A


Conducted on Tuesday, February 2, 2021

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will guide trusts and estate attorneys on various rules and implications of transferring real property in estate planning. The panel will discuss critical estate planning techniques to limit adverse legal and tax consequences of transferring real estate, transfers to trusts and use of LPs and LLCs, and the impact of homestead laws, community property or joint-owner consent, and creditors' rights. The panel will also discuss structuring real estate transactions to minimize potential estate planning issues.

Description

Real estate, often the most valuable asset in an estate plan, demands early and careful planning to maintain the benefit of appreciation gained over a lifetime and, in some cases, generations. Estate planners must identify key issues stemming from real property transfers in estate planning and implement strategies to avoid unintended consequences for clients.

Estate planning goals for real estate include tax minimization, transfer of wealth to future generations, asset protection, diversification, and charitable giving. However, these goals must be in sync with the testator's need to control and/or use the property. This delicate balance introduces a level of complexity that experienced estate planning counsel must prepare to handle.

Additional characteristics of real estate that require consideration are the potential adverse legal and tax consequences of transferring real property. Careful attention must be made to state taxes and homestead laws, community property and joint-owner consent, and creditor rights. Furthermore, valuation, cash flow generation, and ownership by closely held entities or trusts are also real property matters impacting estate planning.

Listen as our experienced panel discusses the various disposition options for real estate in an estate plan. They will focus on techniques such as outright transfers with and without consideration, transfers in trust, and LPs and LLCs. The panel will also outline income tax planning considerations.

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Outline

  1. Key estate planning considerations for real estate owners
  2. Options retaining testator use or providing income
  3. Transfers in trusts
  4. Use of LPs and LLCs
  5. Tax issues

Benefits

The panel will review these and other key issues:

  • Under what circumstances are outright dispositions appropriate? What tools are available when there is consideration and when there is not?
  • What options are available for a testator who wants to retain control over the real estate?
  • When are trusts appropriate for the disposition of real estate? What types of trusts are most appropriate?
  • What methods are available to minimize tax implications of real property transfers in estate planning?
  • What concerns stem from homestead laws, community property, and creditors' rights?
  • How can you structure real estate transactions to minimize the potential impact on estate planning?

Faculty

Bouchard, Eve
Eve A. Bouchard

Attorney
Nash & Kromash

Ms. Bouchard's practice of law focuses primarily on estate planning, estate litigation, probate, guardianship, and...  |  Read More

Nash, Charlie
Charlie Nash

Partner
Nash & Kromash

Mr. Nash has been a presenter on topics pertaining to estate planning, estate and trust administration, estate, gift...  |  Read More

Rawal, Nina
Nina V. Rawal

Attorney
Nash & Kromash

Ms. Rawal has experience practicing law in numerous areas including estate and trust litigation, commercial and...  |  Read More

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