Ilyce answers a question on using a limited liability company (LLC) as an estate planning tool to pass a home to a descendant and protect it from his new spouse. A couple wants to give their son a house as a gift before he gets married, so they plan to create an LLC with themselves and their son as owners and file a quitclaim deed to the LLC so that all three members of their family own equal shares of the home through the LLC. Part of their motivation is to protect their son’s ownership stake in the home from his future wife. But an LLC may not be the best estate planning tool for this purpose. Watch this episode of Big money Real Estate to find out what Ilyce suggests this family consider doing instead to protect their son’s interest in the real estate gift they’re giving him. And check out Ilyce’s Intentional Investor Series to learn everything you need to know to become a successful investor in real estate. Looking for more of Ilyce’s real estate and personal finance tips? Read her blog, see her tweets and follow her on Facebook.
Using an LLC to Protect Real Estate Holdings from a New Spouse
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