Mark Kohler breaks down why probate costs families time and money, and why most homeowners should plan to avoid it. Beyond probate, he covers gift-tax reporting and capital-gains taxes that hit ordinary homeowners, not just the wealthy.
How do I avoid probate? Probate can be slow. It can be expensive. It's public. It can be a real burden on your family to take months and months, sometimes years, dealing with an estate or probate in court. But avoiding probate is not the only goal. That's because we not only want to avoid probate, we want to avoid unnecessary gift tax reporting, capital gains taxes. This is not about being super rich and avoiding estate tax. We're trying to avoid capital gains tax.
The secret to managing your family's future #financialfreedom #estateplanning #shorts
Moving Property to an LLC: What They Don't Tell You #realestate #investing #tips
