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Tag Archives: estate planning

Attention Downsizing Baby Boomers – Sell Your House, Protect All Your Equity, and Pay NO Capital Gains Taxes with this Simple Strategy Using Tools Congress Gave Us

Attention Downsizing Baby Boomers – Sell Your House, Protect All Your Equity, and Pay NO Capital Gains Taxes with this Simple Strategy Using Tools Congress Gave Us

Many of my parent’s friends who have fortunately accumulated significant equity in their homes over the last several decades are faced with a dilemma of downsizing into a smaller home because they can no longer conveniently or adequately take care of their properties.  Importantly, many of them desire a simpler-smaller property, usually all single-level, accessible and easy to maintain.  The problem exists because if they sell their home with substantial equity they face significant capital gains exposure even with the IRC Section 121 exclusion in place.

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West San Jose’s Country Lane Neighborhood Is No Longer A Hidden Treasure

West San Jose’s Country Lane Neighborhood Is No Longer A Hidden Treasure

Previously known as Gubserville1 during the 1880-90’s West San Jose’s Country Lane Neighborhood is rapidly becoming one of the most sought-after neighborhoods in the West Valley for several varying reasons.  First of all it is bordered with well-defined boundaries and has a centrally located amazing elementary school which kids and families can walk to (Saratoga Avenue on the east, Doyle Road on the north, Lawrence Expressway on the west and Graves Avenue on the south).

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How To Avoid The Big Housing Crunch Awaiting Many Baby Boomers

How To Avoid The Big Housing Crunch Awaiting Many Baby Boomers

There Are Dire Predictions For Baby Boomers But It Can Be Overcome With Planning

Those American Baby Boomers born between 1946 and 1964 are facing some pretty serious issues in the foreseeable future none of which are as daunting as the cost of housing in their retirement years.  Notwithstanding the estimated costs of $220,000 a couple will need in retirement for health care costs housing costs will dwarf that number as most experts believe that boomers will be forced to spend in excess of 30% of their monthly incomes supporting their abodes.  The struggle is just beginning because housing costs, both for ownership and for rentals, is skyrocketing throughout the country.

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Palo Alto’s Comprehensive Plan Delays Prompt Zoning Changes – The Value Of Your Real Estate At Stake

Palo Alto’s Comprehensive Plan Delays Prompt Zoning Changes – The Value Of Your Real Estate At Stake

Citizens Should Get Involved To Help Mold The Future Of Palo Alto Growth

The massive overhaul to Palo Alto’s Comprehensive Plan is not expected to be completed for a couple more years, but several city council members would like to implement zoning changes right away because of all the development that is currently occurring and is on the drawing board.

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Your Investment Properties And Your Personal Assets Are Exposed To Litigation If You Haven’t Properly Protected Them

Your Investment Properties And Your Personal Assets Are Exposed To Litigation If You Haven’t Properly Protected Them

Why Forming an Entity to Protect Your Private Wealth From Your Investment Property Liabilities is Critical in Today’s Litigious Real Estate Environment

Do you believe that an investment or rental property insurance policy is enough protection for you and your personal wealth in the event of an accident or other catastrophe to your tenants?  If you are not sure or have not even thought about this then its time – right now.  The parade of horribles that can occur which could result in a serious injury, a permanently paralyzed tenant, or a wrongful death is not that far-fetched.

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What Are Real Estate Investment Trusts All About – And Why They Might Be For You

What Are Real Estate Investment Trusts All About – And Why They Might Be For You

Investing In A REIT Is Participating In The Commercial Real Estate Investment World Without Actually Buying

Real Estate Investment Trusts or “REITs” are companies or corporations or other entities that owns, and most commonly operates a portfolio or income-producing real estate or real estate-related assets.  REITs are designed for individual investors to earn portions or shares or fractions of the income produced through commercial real estate ownership.  The beauty of which is the investor is not required to actually go out and purchase the commercial real estate themselves as others have already done that. REITs come in all categories and may include office buildings, shopping malls, resorts, apartments, self-storage facilities, hotels, warehouses, and mortgages or bundled mortgage loans.

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To Gift Or Devise, That Is The Question!

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Tax and Estate Planning is Critical to Avoid Unnecessary Tax Burdens and Consequences

I have clients ask me all the time if it makes sense to give their property to their kids or should they wait to die and let their kids inherit it.  The practical answer from a tax planning perspective is to allow the property to transfer at the time of death.  If you haven’t spent any time planning your estate or your property succession strategy you should sit down and think about how you would like things to pass, and who should be the recipient of the properties.  If you have a substantial estate with multiple properties chances are you already have done this, if not an estate planning or trust attorney can help you through this process.  Planning now can prevent unnecessary taxes or burdens being placed on your loved ones.

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Durable Power of Attorney – What Is It And Do You Need One?

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A Durable Power of Attorney Can Provide Peace Of Mind, Comfort, and Ease of Transition For Families

As baby boomers approach retirement age there are many considerations which should be addressed regarding preparation for transitions and changes in their lifestyle.  Generally, most people will have to rely on others to help them at some point in their lives, whether it’s daily or periodic help.  Additionally, unforeseen circumstances and events can transpire which can lead to disruption in their daily or future routines.  In order to be prepared everyone, including children of senior baby boomers, should understand what a Durable Power of Attorney (POA) is, and consider having them in place as soon as reasonably possible.

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