Planning for the time when you'll no longer be around is a difficult topic for many of us to discuss. After all, who wants to be reminded of their own mortality? But, regardless of the discomfort, it's a topic that needs to be addressed. Avoiding it can only bring confusion and hostility among your heirs, and the possibility that your hard-earned assets won't be passed on as you would have intended.

When the administration of an estate plan involves the inheritance of a house, as many do, the potential for problems grows even greater. While most situations go smoothly, just as many don't, and the decisive factor between the two outcomes almost always boils down to how much forethought goes into the succession plan — who gets what when you're no longer here?

Because of the emotions almost always attached to a home, whether it's a primary residence or a vacation cabin — as well as the potential financial implications — deciding who will inherit your home and how it will be inherited is tricky territory to navigate. No two families share the same relationships among their members. When an asset as substantial as a property is involved, emotions can overtake logic, leading to tensions that can last for a long time. All the right "what ifs?" must be asked — regardless of how uncomfortable these questions might make everyone feel.

In our newest episode of Absolute Trust Talk, Kirsten Howe and associate attorney Madison Gunn will closely examine the many factors that should be considered when you're passing real estate on to your heirs. In their collective years of practice, they've encountered a wide variety of scenarios, and they'll be leveraging this experience to provide a unique perspective on this very important topic. In the process, they'll unearth a number of questions, many of which you may not have considered.

In this episode, we're going to discuss:

• Why careful planning is the key to the smooth administration of an estate plan
• How changes in the California tax code have had a profound impact on inheriting the family home
• The potential challenges a family home might carry when it comes time to pass it on to an heir (or heirs)
• Several potential scenarios where inheriting the family home can range from relatively simple, to downright complex
• How open, honest communication can prevent resentment and hostilities among heirs

And more.

If you're like most homeowners, the family home is by far your most valuable asset, so it's vital to ensure your property gets passed on as you see fit. This episode will give you a roadmap of the process, the factors that should be considered, the questions that must be asked, and how to facilitate good, honest communication among your heirs. Let's get started.

Take the Next Step in Your Estate Planning Journey

If this episode resonated with you, we'd love to help you with your own estate planning needs in California. Schedule a complimentary discovery call with our team at Absolute Trust Counsel. During this no-obligation conversation, we'll:

1. Learn about your unique situation and goals
2. Answer questions about our services
3. Determine if we're the right fit to work together

Visit https://absolutetrustcounsel.com/scheduling/ or call 925-943-2740 to schedule your free discovery call today.

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