How To Incorporate Your Home Into An Estate Plan
When estate planning gets mentioned, wills and health care directives often come to mind, but what about plans for your home? A home can be an important and sentimental treasure for some families. Whether your house has been in the family for many years, or a short time, it can be something that you would like to pass to a family member. At Orsbon & Fenninger, LLP, we offer decades of experience and knowledge of tax planning that can help you and your family make the best choice for your situation.
You Have Options
There are legal options you can utilize if you wish a family member to inherit real estate but wish to reduce or eliminate exposure to taxes. Options to pass the family home to loved ones include:
- Revocable living trust
- Qualified personal residence trust
- Transfer on death
An attorney can explain the advantages of each option and advise about which choices are most advantageous for your situation.
The Board-Certified Advantage
Because our lawyers are board-certified specialists in estate planning, you can be certain of optimal legal representation with outcomes that are fully compliant with North Carolina law. With some planning, you can protect your right to ensure that future generations enjoy your home.