Count on the Expertise of Margaret Zylka House, Attorney at Law
What is real estate trust asset protection, and why is it important to you? At Margaret Zylka House, Attorney at Law, want our clients, and neighbors, to be as informed as possible. So, this month, let’s discuss the significance of real estate trust asset protection. First off, however, what is a trust, in general? People establish trusts to provide legal protection for their assets, including real estate. They do this to make certain that distribution of their assets will be carried out according to their wishes. A trust can also protect the trustor’s assets from inheritance or estate taxes, or at least reduce the tax amount.
A self-settled asset protection trust also protects your assets, including real estate, from future creditors, making them unreachable to collectors. This could be very useful to you, but actually only in a small cluster of circumstances.
Remember, however, that the information provided in this blog is general in nature. Your particular circumstances could require different actions and avenues. It is best to consult a trusted, experienced attorney. In Southwestern Pennsylvania, that attorney is Margaret Zylka House, Attorney at Law in Connellsville, PA. With that in mind, let’s dive deeper into real estate trust asset protection.
Why Do People Treasure and Invest in Real Estate?
People long to pass their assets to their children or other beneficiaries after they die. After all, they have spent a lifetime accumulating them. Because of that, they want to make sure that their final wishes are carried out. They want their assets, including money, personal property, and more, in the hands of those they have chosen. This also includes real estate holdings. They want to keep the property or properties they own in their family, or at least within selected inheritors.
Real estate is a treasured asset. People love their properties for many reasons, whether they offer amazingly beautiful views or hold a lifetime of fond memories. Real estate is also a very valuable commodity. Dave Ramsey’s Ramsey Solutions website reports that the real estate market rose at the end of 2021. While the site warned that no one can accurately predict trends they expect it to continue to rise in 2022. It is for these reasons that you should protect your investments, especially when passing them to the next generation. This is where real estate trust asset protection can become a beneficial tool.
What Can Real Estate Trust Asset Protection Do for You?
Now that we have examined the value of real estate assets, let’s take a look at trust asset protection. The very reason why people treasure their real estate holdings is why there is a need to protect them. Creditors could claim, or judgments in lawsuits could award your real estate as suitable payment. This is why many people consider real estate trust asset protection as a means to reduce this risk.
This is all about planning ahead. There are two things you should consider when thinking about real estate asset protection. First off, make sure that your property, from your home to commercial properties and undeveloped property, is properly insured. This will help if you face a lawsuit due to a mishap on that particular property.
You also need the proper structure in which to hold your real estate investments. When you singularly hold your real estate ownership in your own name, that opens you up to risk from creditors, lawsuits, and other issues. This is why you need to meet with a trustworthy, experienced lawyer. They can advise you on how to place your holdings into the right real estate trust asset protection. In Southwestern Pennsylvania, that attorney is Margaret Zylka House.
You Can Trust Margaret Zylka House, Attorney at Law
Margaret Zylka House, Attorney at Law, is your trusted attorney for handling trusts in Southwestern Pennsylvania. From our Connellsville, PA, law office, we can help you with all things concerning real estate trust asset protection. As you navigate the trusts laws, you need a knowledgeable attorney in your corner, and that is Margaret Zylka House.
Our law firm can help you with any legal matter. From elder law and guardianship to divorces and family law, you can trust our attorney’s expertise. We are here for you in Connellsville, PA, and the surrounding communities of Southwestern Pennsylvania.
Call the law office of Margaret Zylka House, Attorney at Law, today at (724) 628-4955. Let us talk with you about real estate trust asset protection.