Real Estate
Revenue Ruling 2023-2
Revenue Ruling 2023-2 is Nothing New The IRS ruled in Revenue Ruling 2023-2 that assets in an irrevocable trust outside the taxable estate of the grantor, do NOT get a step up in cost basis when the grantor dies. Although this ruling has received some attention and disagreement in the media, it is nothing new…
Read MoreEquity Strip Exposed
How To Strip Out Equity The so-called “equity strip” is sometimes promoted as an asset protect device. It is most often used with real estate. However, it can be used with nearly any asset. While an equity strip can have significant asset protection benefits, it also has much less aggressive uses for simple retirement cash…
Read MoreTENANTS IN COMMON: IS IT WORTH IT?
TENANTS IN COMMON Most people in real estate know that one way property can be owned is as Tenants in Common. Tenants in Common consists of two or more people who own a separate interest in real property. That separate interest can be transferred, assigned, or mortgaged to a third party. That is, unless the…
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