When the Family Home Becomes a Liability
Many families assume the home should always stay in the family. It represents memories, security, and legacy. But in my practice as a New York estate planning attorney, I often see how real estate can create more problems than it solves when it is not planned for properly.
Why Real Estate Can Complicate an Estate Plan
Unlike financial accounts, real estate comes with ongoing responsibilities. If a home is not placed in a trust or transferred before death, it becomes part of the probate estate. This can delay inheritance, create confusion, and lead to conflict among heirs.
Common issues include:
Long probate delays in New York
Disagreements between family members about whether to sell or keep the property
Hidden title problems or zoning violations
Costly maintenance and property taxes that burden the estate
A Real Life Example
Three siblings inherited their parents’ house. One wanted to sell, one lived there, and one refused to get involved. With no trust or agreement in place, the family ended up in court. Legal fees and delays reduced the value of their inheritance.
Smarter Planning for Real Estate
The good news is, you have options. Depending on your goals, you may want to:
Transfer the home into a trust to avoid probate
Sell the property during your lifetime to simplify your estate
Use a trust or LLC to manage property for multiple heirs
Clean up title and zoning issues while you are alive
These strategies can reduce taxes, avoid family disputes, and ensure your wishes are carried out.
How We Can Help
At Reena Gulati PLLC, we help clients across Long Island and New York protect their family homes with thoughtful estate planning. Whether you want to pass the property to loved ones or decide it is time to sell, we will guide you through the best path forward.
Call us at 516 570 4016 to schedule a consultation and make sure your real estate plan supports your family’s future, not complicates it.
