{"id":14280,"date":"2019-06-03T14:11:36","date_gmt":"2019-06-03T18:11:36","guid":{"rendered":"https:\/\/berwitz-ditata.com\/?page_id=14280"},"modified":"2019-07-26T11:50:06","modified_gmt":"2019-07-26T15:50:06","slug":"mistakes-misconceptions-retitling-real-property","status":"publish","type":"page","link":"https:\/\/berwitz-ditata.com\/articles-and-news-2\/mistakes-misconceptions-retitling-real-property\/","title":{"rendered":"RETITLING REAL PROPERTY"},"content":{"rendered":"<style type=\"text\/css\"><\/style><p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><em>Estate planning, whether simple or complex, requires careful attention to details which, if overlooked or misunderstood can undermine the plan\u2019s effectiveness.\u00a0 We will devote space in each issue to highlight common estate planning mistakes and misconceptions.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p>One of the most frequently misunderstood strategies in \u201cdo-it-yourself\u201d planning is to retitle real property in the name of the children.\u00a0 Homeowners seeking to \u201cprotect assets\u201d often do not realize that such a transfer can have estate and gift tax consequences, will result in the loss of the capital gains tax exclusion when the property is sold, and constitutes an irrevocable transfer.\u00a0 It does not take into account the possibility that a child will predecease the parent and exposes the property to the child\u2019s creditors.\u00a0 The property can be subject to division if the child divorces. Before transferring property to children, consult with your estate planning counsel.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; Estate planning, whether simple or complex, requires careful attention to details which, if overlooked or misunderstood can undermine the plan\u2019s effectiveness.\u00a0 We will devote space in each issue to highlight common estate planning mistakes and misconceptions. &nbsp; One of the most frequently misunderstood strategies in \u201cdo-it-yourself\u201d planning is to retitle real property in&#8230;<\/p>\n","protected":false},"author":7,"featured_media":0,"parent":12338,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-14280","page","type-page","status-publish","hentry"],"featured_image_src":null,"featured_image_src_square":null,"_links":{"self":[{"href":"https:\/\/berwitz-ditata.com\/wp-json\/wp\/v2\/pages\/14280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/berwitz-ditata.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/berwitz-ditata.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/berwitz-ditata.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/berwitz-ditata.com\/wp-json\/wp\/v2\/comments?post=14280"}],"version-history":[{"count":0,"href":"https:\/\/berwitz-ditata.com\/wp-json\/wp\/v2\/pages\/14280\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/berwitz-ditata.com\/wp-json\/wp\/v2\/pages\/12338"}],"wp:attachment":[{"href":"https:\/\/berwitz-ditata.com\/wp-json\/wp\/v2\/media?parent=14280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}