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ESTATE PLANNING: IS YOUR OFFICE BUILDING YOUR RETIREMENT PLAN? IS IT OWNED BY YOUR LIVING TRUST?

Retirement-plan

ESTATE PLANNING: IS YOUR OFFICE BUILDING YOUR RETIREMENT PLAN? IS IT OWNED BY YOUR LIVING TRUST?

In Estate Planning, we look at several things. One thing we ask is

“Is your office building or your warehouse your retirement plan?”

There is quite a risk there.

I have several clients and over the years I have talked to them about this alternative. People are thinking that they have a lot of value built up in their real property that they have their business on or perhaps in a warehouse.

The problem is, it is all sitting out there for creditors and it may or may not have value when it comes to that time.

And even if you do have a lot of value in real estate, which is a really great thing, you still need to put that property into a trust, because when you pass away, it’s going to cost your family, your loved ones, your beneficiaries, a lot of money to go through probate if it is not held in the proper way.

So, specifically if you have an LLC, that LLC should be owned by your living trust. That then helps the process when you pass away be seamless.

It doesn’t require a probate proceeding.

It doesn’t require more lawyers and accountants and appraisers.

There are lots of things to think about. While real estate used to be a real safe investment, it isn’t always anymore.

There are ways to pull the value out of that and put it into vehicles that are very safe and do grow for the future and not have as much risk.

We look at those kinds of options and would love to have an opportunity to work with you.

We do not charge for the first consultation.

Come in and we will look at your options and we will put together a plan. If you don’t like it, don’t hire me.

If you do, we have some business to do and there are really wonderful things you can accomplish.

Clint W. Smith, P.C.
1423 S. Higley Rd Suite 120
Mesa, AZ 85206
(480) 807-9300

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