Episode 28. Understanding Property Ownership Types and Deeds
Jeff addresses listeners’ questions about property ownership and deeds. He explains different types of ownership arrangements, some of which are implied on the deed while others must be specifically listed. With this understanding, it becomes clear that your deed should explicitly name the type of ownership arrangement that best suits your needs.
Jeffrey R. Bellomo, the founder of Bellomo & Associates, is a licensed and certified elder law attorney with a master’s degree in taxation and a certificate in estate planning. He explains complex legal and financial topics in easy-to-understand language.
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Episode 52: Estate Planning for Grandparents: The Best Way to Pass Down Your Assets People often think they should transfer their assets directly to their grandchildren (or children) to avoid inheritance tax. Jeff explains why signing over assets to someone else can present serious risks to a familys financial health. He suggests using a trust instead so that you can ensure that your wealth will be there for your children and grandchildren when needed. As with all the education provided by Jeff and the team at Bellomo & Associates, were confident that a solid understanding of this topic will help you make smart decisions that safeguard your future and that of your family. Don't forget to Follow, Like, and Subscribe for upcoming podcast episodes: Apple: https://podcasts.apple.com/us/podcast/estate-planning-for-grandparents-the-best-way-to-pass/id1634278675?i=1000622478823 YouTube: https://youtu.be/AKX8jGw1GCE Spotify: https://open.spotify.com/episode/4sBLyrmJsgj0ggU0purvHT?si=jFRCt36BRcinVui-FSiMmA
Episode 51: Myth Busting the Recent IRS Revenue Ruling on IDGTs: What You Need to Know A recent revenue ruling by the IRS has caused some confusion. The ruling applies to intentionally defective grantor trusts or IDGTs. Bellomo & Associates does not use IDGTs. Instead, the firm uses irrevocable grantor trusts or pure grantor trusts. The IRS ruling does NOT apply to these types of trusts. We are committed to using strategies that are based on trusted and legitimate tax and legal principles and were pleased to help you understand the complexities of estate planning so that you can make informed choices based on your unique circumstances. Don't forget to Follow, Like, and Subscribe for upcoming podcast episodes: Apple: https://podcasts.apple.com/us/podcast/myth-busting-the-recent-irs-revenue-ruling-on-idgts/id1634278675?i=1000621718991 YouTube: https://youtu.be/fHX3IouFtME Spotify: https://open.spotify.com/episode/5qVqSPQkf0qYwp5UbQRtHx?si=aFxOP2MXQVe8FpxRzIb8_w
Episode 50: Navigating the Legal Minefield: The Risks of DIY Estate PlanningAre you aware of the significant risks in using do-it-yourself legal kits and non-attorneys or non-specialist attorneys for estate planning? Each state has its own rules for preparing wills, powers of attorney, advanced health care directives, etc. Standard forms sold nationwide simply cannot meet all the different requirements of different statesand that can have devastating consequences for your health care and financial interests.But DIY kits are only part of the problem. There are many reasons why it is best to invest in a certified elder law attorney specializing in estate planning so that you can avoid costly mistakes and protect your family's future.Don't forget to Follow, Like, and Subscribe for upcoming podcast episodes: Apple: https://podcasts.apple.com/us/podcast/navigating-the-legal-minefield-the-risks-of/id1634278675?i=1000620981594 YouTube: https://youtu.be/GhyHOE2e0mw Spotify: https://open.spotify.com/episode/1B9NGfWg8sTZjIz9JumFPB?si=wtQdBeyyRcOQW4JJDuunjA