We improve lives. In big ways through informed decision making based on facts, finance, legal and tax analysis. In vitally important, personal ways through human connection and meaningful communication. But in all ways, we improve lives.
From property ownership to home.
From ‘nest egg’ to positive NET proceeds.
Clients First • Integrity • Excellence • Informed Decision Making • Comprehensive Representation
Recent / Current Activity:
- CLOSED @ $550,000 • 551 Farmland Drive, Buellton CA 93427
- CLOSED @ $825,000 • 4565 Cottonwood Drive, Simi Valley, CA 93063
- CLOSED @ $639,000 • 10610 Candytuft, Ventura, CA 93004
- CLOSED @ $950,000 • 997 Fredensborg Canyon Solvang, CA 93463
- CLOSED @ $1,500,000 • 4435 White Pine Lane, Santa Ynez, CA 93460
- CLOSED @ $1,125,000 • 1711 Ballard Canyon Road, Solvang, CA 93463
- PENDING @ $1,249,000 • 3894 Nathan Road, Santa Barbara, CA 93110
- PENDING @ $1,339,000 • 3946 Clover Lane, Santa Ynez, CA 93460
- ACTIVE LISTING @ $5,495,000 • 16 Paloma Ave, Venice, CA 90291
I understand real estate from the inside out having been an active Realtor®-Broker and Attorney for 30+ years. My goal, in every representation, is to foster informed decision-making based on your unique circumstances. Together, we consider realistic options and act on those that maximize NET proceeds while mitigating legal & tax liability exposures. I am ready, willing & able to deliver superior comprehensive services.
Reducing or Eliminating Capital Gains Exposure on Sale of Personal Residence
For an aging America, and all homeowners who have owned their properties for many years, there is a strong probability that it has appreciated in value. Some of that value increase is potentially taxable as a Long Term Capital Gain if not otherwise exempt under the Internal Revenue Code.
Take a look here » Understanding Capital Gains
Deciding whether or when to sell includes these basic options:
- DON’T SELL. You might choose to retain ownership regardless of whether you have outgrown your home’s size & needs and you have sufficient funds to pay maintenance and other costs. Beneficiaries will receive stepped up basis (FMV of property) on date of death.
- SELL. You might choose to sell your home for any number of reasons in which case you may be required to pay the full tax on Capital Gains in the year of sale. To mitigate your exposure, you would try to increase / adjust the cost basis with added, provable capital improvements; or
- DEFER or ELIMINATE. With carefully customized legal & tax documentation, there are ways to facilitate tax deferral (not avoidance) or eliminate the tax on Capital Gains portion of NET sales proceeds.
As an example of deferral, IRC § 453 can be used to sell your home on an installment basis that defers capital gains taxes either on an incremental basis or to a future balloon payment. The positive impacts of spreading tax on some of the NET sales proceeds into future years cannot be overstated. Invoking this solution can materially affect your cash flow, and what health & government programs you might qualify for.
As an example of elimination, a charitable trust charitable trust is an irrevocable trust that may be set up during life or at death if you wish to leave all or some portion of your estate to charity. These trusts are used for philanthropic reasons as well as to obtain certain tax advantages. There are two specific types of charitable trusts: a charitable remainder trust and a charitable lead trust, often known as a “split interest” trust. may be an ideal tax-savings option for those that wish to make a substantial gift to charity. It can also operate as a remainder trust—set up to provide an income stream to a trust beneficiary (often you or your spouse) during the term of the trust, which is typically a fixed period, or the life of the named beneficiary. At the end of the trust term, the trust terminates, and the remainder of the trust value passes to specific chosen charities.
Contact us for a consultation and a complimentary report / analysis that will set the path for understanding your potential tax liability exposure. Once baseline information is gathering and analyzed, we confidentially transition key information to the law firms we work with on a collaborative basis for specific tax advice and estate planning preparation. This process ensures a cohesive representation that serves your best interests.
Reasons to Engage Me as Your Advocate
- Earning your trust is JOB #1
- I stay personally involved in every representation, from start to finish.
- There is no one between us; you receive 100% personal attention.
- “Plain speak” that fosters informed decision-making.
- Prompt, precise communications.
- Licensed Broker-Realtor CA & CO & Attorney CA & CO.
- NO HOURLY or FLAT RATE FEES where I am listing Realtor-Broker.
- TEAM representation with best local Realtor partners.
- Seasoned Expertise over 30 years of hands on transactions.
- Property Values exceeding $350,000,000 in 100s of representations
- I Deliver → Legal, Real Estate, Tax, Practical & Useful Advice.
- I take you seriously
- I am dedicated to positively resolving your concerns.
- I am passionate about real estate & helping clients!