The Realized Team’s Picks
How Can I Give My Beneficiaries Real Estate They Don't Need to Manage?
Estate planning has many considerations as you decide how to divide your assets and distribute them to your intended heirs. If real estate assets are a significant portion of your estate, you may want to consider your options for passing that legacy on to your beneficiaries. If you are an active property manager, you already know how much time and effort the endeavor requires. You also understand that even hard work can't control market volatility, asset performance, interest rates, or tenant behavior.
What Is a Durable Power of Attorney?
Establishing a durable power of attorney can be an important aspect of estate and lifetime planning, especially for aging seniors without immediate family.
[Webinar Recap] How to Treat Your DSTs During Tax Season: Calculating Your Depreciation Schedule
Here at Realized, we help our clients use 1031 Exchanges to invest in DSTs, or Delaware Statutory Trusts. DSTs are an investment vehicle that allow investors access to fractional ownership of professionally managed commercial real estate. By having fractional ownership of a property, an investor can potentially build a unique portfolio of real estate investments without having to manage the properties themselves or secure the entire financing for the investment upfront.
What Is Tax Form 8948 and What Is It Used For?
Taxpayers and tax preparers must deal with a plethora of tax forms, some well-known, others more obscure. Knowing which ones you need (or your client needs) to file is vital to successfully fulfill your responsibilities and achieve the goal of an accepted return.
Can a Trust Be a Beneficiary of an IRA?
Listing a beneficiary for your IRA is almost always an advantageous move. It helps ensure that your wishes for the retirement account are carried out upon your passing. Specifically, the retirement account is transferred to the person you’ve listed as a beneficiary. This is far better than having the account go off to probate.
Collectibles as an Alternative Asset: What You Need to Know
Collectibles can take many forms and whether a particular collectible will grow in value is a gamble. Remember the Beanie Baby investors? But collectibles often have a benefit that is unique compared to other investments. When looking to diversify a portfolio, could collectibles be a part of your investment strategy?
How to Get Power of Attorney
Designating a power of attorney (POA) for your accounts serves several purposes. A POA can act on your behalf during a real estate investment transaction or make decisions regarding personal financial assets or medical care if you become incapacitated.
Can an Executor of a Will Be a Beneficiary?
When an individual creates their last will and testament, they designate someone to execute their instructions. That person, referred to as the will’s executor, is tasked with ensuring that the will's provisions are followed. If a will lacks a designated executor, the probate court will name one for the job. The executor must act in the best interests of the estate as a whole, even if that is counter to the wishes of one or more beneficiaries. If the beneficiaries don’t want the instructions in the will carried out, the executor is obligated to follow the instructions of the deceased, not the beneficiary. It’s important to note that an executor cannot change or delete beneficiary designations.
Can You Depreciate Inherited Property?
Investors can take advantage of tax deductions by using depreciation on their investment properties. Depreciation is available for residential and commercial real estate owners who use their properties for business or income-producing means.
How Do REITs Perform in a Bear Market?
When investors discuss the stock market, they may use terms like “trading,” “bear market,” “bull market,” “correction,” “volatility,” and more. So if you participate in the market, aspire to, or just want to keep up with current economic conditions, it’s a good idea to develop your knowledge of how the market works.
