One Thing That Every Knoxville TN Homeowner Should Have
There’s a right way and a wrong way to transfer a Knoxville area home posthumously. The right way requires having a documented plan. The wrong way could stick your loved ones with a tax bill so large they may have to sell the home just to cover it.
With just 4 minutes for the segment, The Today Show rushes through some very important estate planning considerations, but that doesn’t make the points any less relevant.
Among the estate planning tips:
- Even a simple will can big protection
- For multiple beneficiaries, consider a trust agreement
- Avoid taxes by “selling” your home to heirs while you’re still living
Estate plans are simple, are cheap, and affords protection from the state and the IRS. Every homeowner should have one.
If you have any questions please feel free to give me a call at 865-696-9002. I will be happy to refer you to a specialist in this area. If you want to get an idea as to the current value on your home I would be happy to provide you with information. Or you can check it out yourself on TheBigOrangePress on the upper left hand corner of my site under “Market Snapshot” The Market Snap shot gets all of the data from the Knoxville MLS on Sold Homes in the Knoxville TN area. You can choose to have this information emailed to you so you can stay up to date on Knoxville Homes Sales.
