Effects of Estate Planning on Real Estate

Braverman Sachs Group Real Newsletter, February 2011

Estate planning certainly includes real estate.  To help give our readers some insight into the importance of the effects of estate planning on real estate I have asked Trusts and Estates attorney Neil Rumbak to give a brief overview of the topic.            Evan Sachs

By NEIL RUMBAK: People oftentimes disregard the important roles estate planning plays in the protection and transfers of real estate–whether homestead or investment property.  Nevertheless, estate planning can play an extremely positive role in protecting real estate from creditors, transferring real estate to loved ones in the most financially and tax-effective manner, and avoiding probate.  Because real estate is usually one’s most expensive asset, I encourage one to consider estate planning when dealing with their real estate.

To ensure that people reach the most optimal estate planning results, I encourage them to reconsider their estate planning needs when they purchase, renovate, or sell real property, and at every major life event including, but not limited to, the birth of a child or grandchild, a marriage, a divorce, or a child’s reaching majority.  Estate planning may enable people to save money, headaches, time, and inner-family conflict.

My name is Neil I. Rumbak and I am an attorney with Rumbak Law, P.A., in Pompano Beach.  At Rumbak Law, we use the law to empower clients in Broward and Palm Beach Counties to reach their estate planning and tax goals.  In order to facilitate the most legally effective and tax-efficient resolution of a client’s issue, Rumbak Law consults with real estate brokers, appraisers, accountants, and insurance agents.

*This document contains legal and tax information, but does not contain legal advice.

*This document has examined Florida and Federal U.S. laws in effect in February 2011.