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One of the foremost thriving markets in the world is real estate investment. Louis Glickman describes “Earth” as the best investment on Earth. There are a lot of growing real estate businesses and this invariably means that there is a growing need for strategic planning agencies. Estate planning firms are useful for strategic planning and estate management. Hence, you do not have to go through the hassle of securing your housing because the firms are committed to helping you meet your housing needs.
“Real estate is an imperishable asset, ever-increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all security and about the only indestructible security.” – Russell Sage. Russell’s statement is true, but it is still important that assets and investments are maintained by the best hands. Many individuals or families have issues with the maintenance of their properties. These properties could be inherited or could be houses that are used for rental services. Maintenance of estate properties could also extend to the maintenance of actual estates or large structures used for large businesses like companies, casinos, malls, hotels, and recreational centers.
Aside from the maintenance of properties, real estate planning services also engage in the acquisition of property, sale of property, strategic land management, property lease, legal aid, and other estate planning services. There is always an option for you to choose from with whatever estate planning service you require. Real estate cannot be lost or stolen, nor can it be carried away. “Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world”. – Franklin D. Roosevelt.
If there is any business that you should be investing in, it has to be real estate because it is known to be the most secure long-term investment. Globally, land laws might be different, yet land yield is common to all land-owners. It simply gives a continuous circle of wealth whereby you invest, wait a while, and begin to earn.
Many wealthy individuals all over the world invested or inherited real estate and have great reviews about taking the initial step of commitment and patience. If you’re looking for the most viable investment opportunity then your best chances would be investing in real estate. Yet, there are some common issues surrounding real estate.
Read More: What are the Wealthy investing in?
These issues could revolve around management, sales, purchase, land laws or policies, tenancy and the distribution and care of properties after death— which is where estate planning comes in.
Estate planning can be expressed in different forms. These various forms are all targeted at helping the client care for his or her properties and holdings at the point of death or in the case of unforeseen circumstances like health issues and incapacitation. Some of these forms include the following:
This is an estate planning tool that documents the decisions of clients on how their properties and real estate holding, amongst other assets, are to be catered for and distributed amongst their loved ones. The will is subject to certain tax laws and usually has to go through probate. However, it caters to major issues like beneficiaries, the guardianship for children who have been left behind and the client’s desires as to how his or her properties are to be bequeathed and kept in trust.
A trust is another estate planning tool that functions almost like a will, which functions on a wide variety of options when it is classified as irrevocable. It involves a guarantor who owns the property, a trustee to whom the property is kept in trust and a beneficiary for whom the property is being kept and managed.
Some of the other options that a trust caters for, in the irrevocable form, are health issues and medical control when a person is incapacitated and it sees to the protection of clients’ assets if they have children who are minors or dependents with special needs who need to be catered for at the point of death. Furthermore. It also helps to shield a client’s property in case of beneficiaries who are financially unstable or who have issues with debts, creditors or a divorce.
This power of attorney is medical and health oriented in nature. It gives someone else the power to make decisions on your health or medical choices on your behalf if you are incapable of doing so. This should be given to someone you trust and who you will be willing to trust with your life. This could be a close friend, a relative, a spouse or your attorney. In other words, this person gets to decide if you should be on certain medications, if such medications should be stopped, if a surgery is to take place, and if there should be an organ donation or not in the case of death.
Here, the power of attorney is an estate planning tool that gives someone else the power to make certain financial decisions and actions on your behalf as though they were you. The power of attorney can be revoked by the client whenever he or she decides to do so. It also enables such a person to handle business decisions on behalf of the client.
In conclusion, any one with properties, estate holdings, assets and money should think of strategic estate planning as a must. It helps to secure a person’s legacy after the person’s death or a case of incapacitation. In other words, estate planning provides a form of security for people who have worked and accumulated wealth over time to protect their interests, care for the things they have worked for over time, cater to their loved ones, and be sure that their properties would not be lost to creditors, divorce suits or financial irresponsibility.
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