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Are Single Family Rentals a Good Investment?

Are Single Family Rentals a Good Investment?

Deciding which investments to add to your portfolio can be more challenging than you might anticipate. If you have found yourself interested in alternative investments, real estate is a choice. Because of the many different types of properties at your disposal, you can invest in a property type that aligns with your individual investment objectives.

Jun 22, 2022

What Is Legacy Planning, and Why Is It Important?

What Is Legacy Planning, and Why Is It Important?

Legacy planning is the process of protecting and transferring assets from the current generation to the next. Careful planning can help preserve the value of your future bequests, assist your heirs with forming their investment strategies, and assist with managing tax obligations. Legacy planning may also include the inclusion of value considerations.

Jun 20, 2022

What Is the BRRRR Method in Real Estate?

What Is the BRRRR Method in Real Estate?

Mention the words “real estate investment” and what might come to mind is buying a property, finding quality tenants, and generating potential cash flow from rents. There is also the possibility of asset appreciation, meaning you could generate capital gains on the sale of that property.

Jun 19, 2022

How Is Legacy Planning Different from Estate Planning?

How Is Legacy Planning Different from Estate Planning?

Some people scoff at the notion that there is a fundamental difference between estate planning and legacy planning. After all, both refer to a plan for distributing your assets after your death, plus related concerns like end-of-life issues. In addition, both types of planning usually involve preserving wealth, sharing good fortune with your heirs, and possibly safeguarding family keepsakes.

Jun 18, 2022

Is a Charitable Remainder Trust Revocable?

Is a Charitable Remainder Trust Revocable?

Leaving a financial legacy can take on many different forms. Creating a charitable remainder trust to benefit your favorite foundation, museum, community group, university or nonprofit organization is an avenue to consider when deciding how to commemorate your financial achievements and cement a fiscal legacy. 

Jun 15, 2022

How to Write a Relinquishment Letter for a Property

How to Write a Relinquishment Letter for a Property

When gifting property to an heir or relative, what might be a simple or quick method for initiating the transaction? In real estate, there aren’t too many things that are simple or quick. There’s generally lots of paperwork and even various parties involved to complete specific transactions. All of this can vary from state to state as well.

Jun 13, 2022

How Much Does a Revocable Living Trust Cost?

How Much Does a Revocable Living Trust Cost?

Determining how your valuable assets will be handled after you pass is a crucial aspect of estate planning.  Many people place important assets such as real property, cash, brokerage and money market accounts, bonds, business interests and other important financial resources and possessions into living trusts while they are still alive so that they know exactly who will receive these assets upon their death. Revocable living trusts differ from other types of trusts because the grantor – the creator of the trust – can change, alter or void the provisions of the trust at any time. 

Jun 12, 2022

Are Late Fees Considered Rental Income?

Are Late Fees Considered Rental Income?

Owning a rental property comes with many different kinds of tax advantages and deductions that can be helpful at tax time. 

Jun 11, 2022

What Is Tangible Personal Property?

What Is Tangible Personal Property?

If you can feel it and relocate it, then it meets the definition of tangible personal property.  Tangible personal property is a term most often used for tax purposes. It describes a wide range of items used in the course of conducting business or for operating a rental property. Items that are considered tangible personal property can be depreciated over five or seven years using the straight-line depreciation method. However, these items also can be depreciated using the accelerated method if you desire. 

Jun 11, 2022

Can a Spouse Be Next of Kin?

Can a Spouse Be Next of Kin?

Without a will or estate plan, your assets will be inherited by your next of kin after your passing. Discover who qualifies as next of kin, what responsibilities the next of kin have, and if your spouse can be named next of kin.

Jun 9, 2022

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