Anyone buying houses in Palos Verdes or for that matter anywhere should give plenty of thought to the manner in which they hold title. It DOES make a difference! One of my clients, Mr. Gino Stumpo of UBS, has published a terrific article on this matter. Gino is the First Vice President of Investments and a Senior Managed Accounts Consultant with UBS.
Planning with real estate and houses in Palos Verdes: how is your property titled?
One of the most fundamental decisions you will make regarding property ownership is how to hold title to houses in Palos Verdes. This decision can impact many aspects of property ownership, including:
- How much control you have over the property
- How well the property is protected against liabilities and/or creditors
- How the property is valued for gifting purposes, and
- How the property is treated when you die.
The issues of ownership and control of real estate, whether it be houses in Palos Verdes, as well as asset protection and estate planning are often inter-related. The type of ownership that is most appropriate for you will depend on your particular situation, goals and objectives and the laws of the state where you live as well as the laws of the state in which the real estate is located. As such, it is important that you consult with a professional who is competent in all of these disciplines to help you appropriately weigh each of these considerations. For more information on the tax and legal consequences of holding title to houses in Palos Verdes, please consult your CPA and/or Tax Attorney.
To read Gino’s full article and see how it may apply to ownership of houses in Palos Verdes, visit this link to download his report.
Houses in Palos Verdes Estates Market Report (Below the Search Map)
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George Fotion on HomeIsPalosVerdes.com
As originally published at http://www.homeispalosverdes.com/consquences-to-holding-title-to-houses-in-palos-verdes/