What happens to My Real Estate when I die?
Hello real estate owner today I want to address what happens to your real estate when you pass away.
So, here in the state of Florida your real estate, if it’s in your name when you passed away, it can get stuck going through probate. When I say can get stuck going through probate because this is reality, if the property was held in your name individually or even in your entities name when you passed away. You can say Woooow, wait a minute, I put my business into an entity what does it have to do with me passing away?
The reality is that membership shares, unless you put them into some sort of a vehicle to keep them out of probate, are also going to be impacted by your passing away. Therefore, impacting your business and impacting the properties owned by your business. So, what do you need to do? You need to do effective estate planning that’s going to actually make sure that neither your properties owned by you, nor properties owned by your business gets stuck in the probate process. If you want to find out more call our office at 813-480-2106 and scheduled a family wealth planning session where you get to actually find out how to protect your businesses from being impacted by your death or your incapacitation.