Estate Planning for Real Estate Investors

Traci Ellis, my wonderful real estate attorney friend in Atlanta,  was the guest of my teleclass today on Estate Planning for real estate investors.  Among other things, Traci shared , “Although our mortality may not be our favorite subject, it is an important subject to address because what we leave behind is our legacy.”   By doing a little estate planning now, it can save those you love so much grief in the future.  Without that planning, the state ends up choosing how your assets are handled.  You are not working this hard for the state, are you?

At a minimum, we should all have the following:

1) Will  2)Power of Attorney 3)Living Will or Advanced Directive

If you have children, choose a guardian to raise your children should something happen to you. 

The important information regarding your estate and your wishes should be documented.  A family member or other person you choose should have a copy of the documentation and your attorney may also hold a copy.  There are also online services now to upload these types of documents so that they can be retrieved from anywhere.

Don’t miss our next teleclass with Traci when we discuss the use of Trusts for real estate investors.  Visit www.tranformit.net/eventscalendar to register.

Also, Traci offers an information packed blog of her own -visit it at www.traciellis.com.

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Asset Protection -Real Estate Investors & Corporate Governance

So, you’ve heard that you need asset protection as an investor and you’ve even set  up your entity.  But, have you properly managed that entity?  Unfortunately, entity structuring for the purpose of asset protection can be absolutely useless if you are not properly handling corporate governance.  Yes, that’s the side where you have to keep up with minutes, paperwork, meetings, etc. It is really not that complicated if you understand what you need to be doing.   Listen to Traci Ellis, real estate and asset protection attorney,  on my radio show, Real Estate Reality Radio,  to learn more about how to use corporate governance to  protect your assets.  http://www.blogtalkradio.com/RealEstateRealityRadio