Here is a little different take on estate planning and real estate.
To begin you have assets, and they will go elsewhere when you die. (You are not taking them with you.)
First 2 questions: what do you have? Where do you want it to go?
Some aspects of your Estate Plan, when passing on real estate, are:
- What do you have in place to protect you? Insurance, Trusts, Power of Attorneys?
- How efficiently is your portfolio of properties running? Is it running smoothly, or are there always problems and lost time and money?
- How complex is the real estate portfolio? Can you pass it to the heirs without issues, or will it need to be sold at some point? Can the heirs work effectively with what they receive?
Lastly, how will DEATH and TAXES play into it. Do you have a Trust? Is the estate prepared to minimize problems at passing? Are the effect of taxes best mitigated:
Look at your situation and see how you are doing.
Best of Luck!
