Page 13 - The Jewish Voice - September '21

The Jewish Voice, Page 13

Lifestyles from page 12 TO ALL OUR NEW RESIDENTS IN FLORIDA! If you are single, owning the property in your sole name
Approximately 35% of our clients are new to the area. allows you to take advantage of tax benefits for primary
the in-office photo session and one on one connection. We I look forward to meeting you in my office soon! LIVE residences. Similarly, transferring ownership to a revocable living
certainly attract people who are financially secure and matchmakers are standing by on our hotline seven days trust may also allow you to retain the applicable tax benefits
truly looking for a quality relationship. (I am grateful for a week to help you take your next step to finding love with the added benefit of avoiding the probate process. If asset
this phenomenon.) before the holiday boom begins! protection is a major concern during your lifetime, certain types
In addition, “The Revolution” is attracting MORE XOXO, of irrevocable trusts are best suited for your needs but may require
MEN than ever. So what makes Revolution Dating such Kelly you to give up some control of the property.
a “Man Magnet”? While I’d like to credit this success to #FallInLoveAgain #LoveLocal #LoveOffline Also note that the bankruptcy code may provide additional
our beautiful female clientele, it’s much more than that... #RestartSmart #TellYourFriends protections for a primary residence (i.e., your state may have a
hence I’ve compiled the top 8 reasons why MEN love Kelly Leary has 30 years in the dating industry and a homestead exemption). However, in some states, transferring
©
Revolution Dating: Master’s Degree in Psychology. She’s been profiled by ABC your primary residence to a trust may eliminate the homestead
1. Men love the Revolution Dating Club because News, The Palm Beach Post, PalmBeacher Magazine, exemption because the trust will be deemed to be the owner of
WOMEN do. Men follow women. It’s biblical and much Stuart News, etc. Revolution Dating members are pre- the residence rather than the debtor. If this situation could apply
older than the concept of “Ladies Night”. Men go where screened including background checks. Professional to you, it is important that you meet with a knowledgeable
women are going...especially the smart ones! photos are taken by the staff. Revolution Dating is not estate planning attorney before making any transfers of your
2. Revolution Dating Women are beautiful on the online dating or blind dating. In addition to providing primary residence to a trust.
inside and outside. Plus, men trust that these ladies are matchmaking services that make singles “UN-single” Vacation Home
sincere daters...not users. through their exclusive club membership, Kelly also For some families, the vacation home has high monetary
3. The women of Revolution Dating are forthright provides feedback from your dates when appropriate. value, but also significant emotional value as well. Ownership
with the men they date, which men appreciate! Call 561-630-XOXO (9696) or 772-932-HERE (4373) of a vacation home by a trust or limited liability company (LLC)
4. We take the guesswork and game playing out for a LIVE interview with a matchmaker for the quickest can be advantageous because it addresses two main priorities:
of dating for our male clients. The staff will advise a service. You may also visit us at www.revolutiondating. ease of transfer to the next generation and asset protection.
handsome male client about which of our beautiful female com. *All inquiries are confidential. With a trust or LLC, you are able to determine a set of rules
clients he should pursue. This makes the dating process for how the property is to be used and maintained, as well as
so much easier for guys! Men get so tired of wasting their How to Own Your Real Estate designate what is to happen to the vacation home once you pass
time and money online dating only to find out he has been away. This can be a great solution if you want to ensure that the
catfished or ghosted. Submitted by Anné vacation home stays in the family for generations with minimal
5. Men typically bear the brunt of the work Desormier-Cartwright, J.D. family conflicts.
involved with dating. But, the Revolution Dating team Real estate is more than An additional benefit of having an LLC own the vacation
plays “wingman” by endorsing men to women. We make just your primary residence. home is that it provides limited liability from outside claims.
the dating process easier for males (and subsequently It can include other real If a judgment is entered against the LLC, the creditor is limited
females), which is why people really love us! estate, such as a vacation to the assets of the LLC to satisfy its claims, not your personal
6. You won’t meet our beautiful women online or in home or a rental property. assets or those of the other members. Also, if you or another
any bar, which is exactly why smart men are attracted Depending upon the type member have a judgment entered against you for a claim
to our club. They know that Revolution Dating is where of real estate you own, the unrelated to the LLC, it will be harder for a creditor to force
all the fantastic ladies are joining! It’s a no-brainer. ideal form of ownership a sale of the vacation home. This can be incredibly helpful if
7. Men also love the feedback and the advice can vary. Below, we take a you wish to pass on the vacation home to the next generation
from the staff at Revolution Dating. We have a staffer look at the different types without having to worry about the individual financial situation
that represents each age group. As one male client said of real estate and make suggestions about the best form of of each of the new members.
recently, “Kelly, you make dating so much fun. I thought ownership for each. Note: In some states, single member LLCs (an LLC in which
I was going to hate dating again, but you have changed Primary Residence you are the only member) do not enjoy the same protection from
my social life. I know I will fall in love with your help.” Because of the special tax treatment a primary residence your personal creditors. The rationale of these laws is that your
Another male client recently married said this to me: receives, you need to very carefully consider how your creditors should be able to seek relief through your LLC interests
“Kelly, we make a toast to you every day at dinner. Thank home is owned. In applicable states, “tenancy by the to satisfy their claims because there are no other members that
you so much for being you.” I can’t tell you how much entirety” offers married couples creditor protection from the will be negatively impacted by their seizure of money and
this warms my heart. I am truly humbled to be at the creditors of one of the spouses (with a possible exception property owned by the LLC.
center of so many love stories past present and future. for federal tax liens) while still preserving relevant tax If the vacation home has been in the family for many
8. Revolution Dating goes far beyond just benefits. It also allows the automatic transfer of ownership years, it is important to consult with us and your tax advisor
recommending matches! We can help you plan exciting to the surviving spouse upon the death of the first spouse, to make sure that transferring your vacation home to a trust
dates to lighten the intensity of dating. We can also help without court involvement. Transferring ownership of the or LLC will not cause an increase in your property taxes or
you spruce up your wardrobe and look if you so desire. primary residence to a joint revocable trust may also be an other unintended consequences.
Please just ask! option if you live in a state that allows the tenancy of the Rental Property
Revolution Dating is truly flattered to see that men and entireties protection to transfer to a joint revocable trust. As a stream of income, instead of a residence, the bigger
women love us now more than ever. This Fall can be very Ownership by the trust also means that the real estate will concern with rental property is usually asset protection. Because
exciting for you all and I can’t wait to work with you too. not go through the lengthy, expensive, and public probate the occupants of the rental property can change over time, as a
Thank you for following our love movement. Do share process but will instead be handled according to your wishes landlord and owner of rental property, there is a higher probability
the love and tell your single friends! Also--WELCOME as specified in the trust document. of lawsuits arising in connection with it. For rental property,
transferring ownership to an LLC is a great option. If a renter
gets injured on the property, sues the LLC that owns the property,
and obtains a judgment that exceeds any property insurance you
have, the renter can only go after the assets owned by the LLC,
not your personal assets or those of any other owners of the LLC,
to satisfy any claims.
In addition, ownership by the LLC may protect the rental
property from your personal creditors. However, if you are
forming a single member LLC, it is important to have us check
state law to make sure creditor protection is available.
Whether you are concerned about your primary residence,
family cabin, or rental property, we are here to assist you in
protecting this valuable asset. Due to the various considerations
for selecting a form of ownership, it is important to have the
right advisors helping you along the way. Give us a call so we
can discuss your current and future real estate ventures and the
best way to protect them for generations to come.
If you have questions about your estate plan and what
documents you should have in place to plan your estate, schedule
a free consultation today by calling our office at 561-694-7827,
Anné Desormier-Cartwright, Esq., Elder & Estate Planning
Attorneys PA, 480 Maplewood Drive, Suite 3, Jupiter, FL 33458.
The content of this article is general and should not be relied
upon without review of your specific circumstances by competent
legal counsel. Reliance on the information herein is at your
own risk, as it expresses no opinion by the firm on your specific
circumstances or legal needs. An attorney client relationship is
not created through the information provided herein.
To comply with the U.S. Treasury regulations, we must
inform you that (i) any U.S. federal tax advice contained in this
newsletter was not intended or written to be used, and cannot
be used, by any person for the purpose of avoiding U.S. federal
tax penalties that may be imposed on such person and (ii) each
taxpayer should seek advice from their tax advisor based on the
taxpayer’s particular circumstances.

Lifestyles on page 14