Real Estate 101 and Beyond

The answer may surprise you. One of the most common estate planning questions I hear from homeowners is: "Should I just add my child to the deed so they automatically get the house when I pass away?" At first glance, it seems like a simple solution. Many people assume adding a son or daughter to title is the easiest way to avoid probate and ensure the property passes to the next generation. Unfortunately, it isn't always that simple. In fact, adding a child to your deed can sometimes create more problems than it solves. Why Homeowners Consider Adding a Child to the Deed Most homeowners have good intentions. They want to: Avoid probate Keep the home in the family Simplify the transfer process Save their loved ones time and expense While those are worthwhile goals, the method chosen to achieve them matters. Potential Problems with Adding a Child to Title Loss of Control Once you add another owner to the property, you may no longer have complete control over your home. Depen...

One of the most common questions I receive from homeowners and real estate investors is whether placing property into a land trust will cause them to lose their Florida homestead exemption. The short answer is: No, not if done correctly.  Under Florida law, a homeowner may still qualify for the homestead tax exemption even if title to the property is held in a land trust, provided certain requirements are met. Because homestead protections can significantly reduce property taxes and provide important legal protections, understanding how trusts and homestead rights work together is critical before transferring your property. What Is a Land Trust? A land trust is a legal arrangement in which a trustee holds legal title to real property for the benefit of one or more beneficiaries. Land trusts are commonly used for: Privacy Estate planning Asset management Simplified transfers of beneficial interests Certain investment strategies While the trustee appears in the public records as the ...

 One of the most common questions Florida homeowners ask is whether they need a will or a trust. The answer is: it depends on what you own, how your assets are titled, and what you want to happen when you pass away. But there are some very clear differences between a will and a trust that every homeowner should understand; especially if you own real estate in Florida. What Is a Will in Florida? A will (also called a “last will and testament”) is a legal document that states how you want your assets distributed after your death. A will typically covers: Who inherits your property Who will be in charge of your estate (personal representative) Who will care for minor children, if applicable Instructions for distribution of assets However, a will does  not  avoid probate. In fact, in Florida, a will almost certainly guarantees your estate will be subject to court probate proceedings before assets can be distributed. That means: Court involvement Legal filings Delays before pr...

For most Florida families, their home is their largest asset so they  spend years protecting that investment while overlooking a simple question: What happens to the house if something happens to you? The most expensive estate planning mistake Florida homeowners make is not creating an estate plan at all because they mistakenly believe estate planning is only for the extremely wealthy.  I find that many also assume their spouse, children, or other family members will automatically inherit their property and be able to handle everything without difficulty. Unfortunately, that is often not how things work. When a homeowner dies without a will, trust, or other estate planning documents, surviving family members can face delays, expenses, court involvement, and uncertainty at a time when they are already dealing with a loss. Having an estate plan in place creates peace of mind, can.  provide substantial tax benefits to your heirs and reduces interfamilial conflict because eve...

  Do You Need an Attorney for a FSBO Sale in Florida? Selling your home without a real estate agent, commonly referred to as “For Sale By Owner” or FSBO, is similar to what we call "pro se" in the legal world and is absolutely allowed. Whether it is the right choice for you requires the consideration of multiple factors. Many sellers choose this route to net more seller process by avoiding paying agent commissions. But once you move past listing the property and start receiving offers, the legal side of the transaction becomes very real, very quickly. So, is an attorney required? In Florida, the answer is, no. There is no legal requirement that you hire an attorney to sell your home. The better question is whether you should. Where FSBO Sales Start to Break Down Most FSBO sellers don’t run into issues landmines when. marketing their home. Instead, they run into problems once a buyer is ready to move forward. Common issues include: Contracts that don’t clearly reflect the agre...