What Happens to An Irrevocable Trust When The Grantor Dies?
Estate planning is crucial for preserving wealth and ensuring a smooth transition of assets. An irrevocable trust is often used as part of an estate planning strategy.
How To Buy Raw Land
Raw land is property that hasn’t been developed or built upon. It lacks buildings or structures, public utilities like sewer, water, or power and paved roads. It’s speculative and generally doesn’t generate income.
Setting Up a Financial Power of Attorney
If you own investment real estate, securing a financial power of attorney (POA) may be an important tool for protecting and managing your assets. A POA may authorize a designated individual to oversee real estate and other assets if you become unable to do so.
How To Start A Real Estate Investment Group (REIG)
A Real Estate Investment Group (REIG) can be a powerful strategy to expand your portfolio while leveraging collective resources. An REIG means you pool your resources with other investors to target larger, real estate opportunities. Such a group allows you and other members to share their experiences and expertise.
Does Selling Land Affect Government Benefits?
Selling land can be a significant financial decision for a real estate investor. That significance increases if the investor receives government benefits like Social Security retirement or disability payments or Supplemental Security Income (SSI).
Accredited Investors: What They Are and Necessary Qualifications
Not everyone is an accredited investor. The Security and Exchange Commission (SEC) has specific rules for accredited investors. This article discusses the regulations involved and how to determine if you can call yourself an accredited investor.
Understanding Mineral Rights and Real Estate Implications
You could also own the mineral rights if you own land as an investment. Mineral rights can significantly impact property value, revenue potential, and ownership responsibilities. You might want to convey those mineral rights when you sell that property. Knowing whether conveyance is a good idea and how to do so can help you make informed decisions to protect your financial interests.
Using a Delaware Statutory Trust with a 1031 Exchange
Using a 1031 exchange to exit your current investment real estate ownership can help defer capital gains taxes and depreciation recapture. Thanks to the IRS Revenue Ruling 2004-86, you can use fractional shares offered through a Delaware Statutory Trust (DST) as part of your exchange strategy.
Proving Your Next-of-Kin Status
Estate planning and inheritance matters are crucial for those who own investment property and wish to pass it on to heirs. However, if no wills, estate specifics or directives are in place when that investor dies, it could fall on the heirs to prove that they were related to the decedent. This is where proving a next-of-kin status comes into play.
1031 Exchange Rules and Requirements To Consider
1031 exchanges remain a popular investment route for those who want to defer capital gains taxes. Since you can indefinitely continue the process, you delay tax payments if you grow your initial capital. While this potential is appealing, the IRS has strict 1031 exchange rules and stipulations to help prevent abuse and ensure the tax-deferred status of investors and property owners.
