Do THIS Before You Put Real Estate In a Trust

When considering moving real estate into a trust, consulting with a CPA is a crucial step. CPAs possess extensive knowledge about tax laws and can provide invaluable advice on the potential tax implications of such a transfer.
Firstly, transferring real estate into a trust can trigger capital gains tax or gift tax consequences. A CPA can help you understand these potential outcomes and advise on strategies to minimize any adverse tax effects. Their expertise ensures that you make informed decisions that align with your financial goals.
Furthermore, trusts have their own unique tax requirements. Unlike personal tax filings, trust tax returns can be complex and require a thorough understanding of specific regulations. A CPA can guide you through the process, ensuring compliance and helping to avoid costly mistakes.
Tiffany Webber is a real estate attorney and owner of Thomas & Webber, a real estate law firm in Mooresville, North Carolina. They handle both commercial and residential real estate closings, estate planning, and business formations.
If you'd like to work with Thomas & Webber, please email [e-mail]
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Thomas & Webber
514 Williamson Rd.
Suite 421
Mooresville, NC 28117
704-663-1600
www.thomasandwebber.com