Do you own your own home or maybe even a vacation home or other rental properties? If you have real estate in Pennsylvania, it is important that you decide what happens with that real estate when you are gone. Watch this video to learn more about distributing real estate to your beneficiaries.
So that you can control what happens with your real estate when you pass away, you should consider one of the following.
* Real estate can be given in a specific bequest in your Last Will,
* Real estate can be sold and the proceeds added to your residuary estate,
* Real estate can be put into trusts for your loved ones (to protect it until they are older OR to protect it more permanently from divorce), and
* Real estate can be taken by one or more of your beneficiaries as an "in kind" distribution of his or her inheritance. In fact, real estate can be distributed in kind equally among multiple beneficiaries.
To find out about the advantages and disadvantages of each scenario, it is best to speak with an experienced estate and wealth preservation attorney. To talk with us today, call Unruh, Turner, Burke & Frees at 610.933.8069 or contact us online at https://www.paestateplanners.com/contact.cfm.