For many people, your real property investments, including your home, are a large percentage of your total assets. Placing your real property into a revocable living trust could benefit you greatly by allowing certain exemptions, deductions and credits that would otherwise not be available to you.
The New Tax Law's Effect on Real Estate InvestmentsThe Tax and Jobs Act, also known as Public Law No: 115-97, became law in December of 2017. Thus, 2018 is the first tax year where we will see the legislation in action.
If you are thinking of changing your resident, then there are several reasons that you may want to consult a lawyer before signing any documents. While most real estate agents are trustworthy, working with a lawyer can save you many headaches.
A mortgage is not the only financial concern for homeowners. Anyone who owns a home also has to deal with property taxes on an annual basis. A property tax bill is usually the biggest tax-related obligation a person will have.