Strategies to consider to protect family real estate assets

Passing down family-owned real estate comes with many challenges and developing the right

strategy for ownership can save the family money and heartache. Keeping a family real estate

asset in the owner’s name and passing down partial ownership to each descendant may not be

the best plan for your family. Because each family member will likely be in a different financial state,

the best way to accommodate all parties is not always to keep or sell the property.

Estate planners have a host of tools in their arsenal to address an asset to best fit the needs of

your family. Strategies such as a family limited liability company (LLC), a partnership, or holding

the property in a trust, might be the right option for your family, but only after meeting with an

estate planning professional can you make the best decision for your situation.

Each family dynamic is unique and choosing the right strategy only comes from proper planning

and communication. Southern Land Advisors has relationships with many estate planners and

we will be glad to guide you in the right direction for you to make the important decisions that

are best for your family. Give us a call and we will be happy to assist you.