Mountain Views News          Saturday, August 23, 2014

B3

 

BUSINESS NEWS & TRENDS

 Mountain Views News Saturday, August 16, 2014 

FAMILY MATTERS By Marc Garlett


ATTITUDE ADJUSTMENT

 In spite of the real estate roller coaster of the last 
few years, homeownership remains the bedrock 
of financial and familial security. Having a long-
term investment that provides the satisfaction 
and pride of ownership beats just about anything 
else you can do with your savings.

 When the market exploded several years ago, 
the expectations of many consumers grew too 
high, too fast. Homes became more commodities 
than investments, and now markets and attitudes 
have been forced to realign.

 Conditions today make it an opportune 
time to secure your future. Home prices and 
interest rates are still low, and tax advantages 
are abundant. You just have to get past all the 
negativity in the media. All the bad news has 
drained consumer confidence, and frankly, you 
cannot underestimate the effect of intangibles 
like confidence and expectation on the real estate 
industry.

 Real estate transactions are unlike any other 
financial transaction. The demand and desire for 
homeownership doesn’t expire like other flashy 
investment instruments. The inherent value of a 
stock can be calculated by a formula of company 
profits, earnings ratios, performance history, 
fund managers, and so on.

 However, a home’s value is ultimately 
determined by what a buyer is willing to pay for 
it, and the security and well-being that owning 
your own home provides. Honestly, there’s 
hardly been a better time to make your move.

How to Protect Your Real Estate Assets

If you own real estate, chances are you have purchased 
insurance to protect the property against damage 
or loss. But have you taken the necessary steps to 
protect your assets against lawsuits or probate?

 If you own rental properties, there is likely a 
nagging fear in the back of your mind about being 
sued by one of your tenants. And if there isn’t, there 
should be. It’s a major risk.

 And while it may be heartbreaking to think about, 
there is always a chance your death could trigger a 
family feud over your home, vacation home, or other 
real estate investments. 

Two common estate planning tools for real estate 
asset protection include limited liability companies 
(LLCs) and trusts:

 The LLC. If you have income-producing property, 
then an LLC probably makes sense for you, since 
it shields your personal assets from lawsuits or 
claims that result from your ownership of the real 
estate. LLCs may also offer owners privacy since 
the property can be listed in a company name, not 
in your name directly. However, you must be sure 
you maintain the LLC properly so the planned for 
protections remain intact. It’s not too difficult to 
accomplish that though, especially with the help of 
counsel.

 The Trust. If you own property that you do not 
rent out on a regular basis, then a trust may be a better 
choice for you. There are several options: a Qualified 
Personal Residence Trust (QRPT) is an irrevocable 
trust (meaning it cannot be changed without the 
consent of the beneficiaries) that allows an owner 
to use the property for a fixed term, and then pass 
the property on to heirs. This is a commonly used 
structure to reduce the size of your estate for estate 
tax purposes. 

 A revocable trust (which can be changed without 
consent of the beneficiaries) is more flexible and, 
if you choose a dynasty trust, can last for multiple 
generations. The major benefit of the revocable trust, 
besides control of what happens to the assets after the 
death of the grantors, is that it keeps your assets out 
of the hands of the Court after your death, and totally 
within the control of your family. 

 You can also use a combination of LLCs and trusts 
to protect real estate assets if you have a combination 
of primary residence and rental properties. We can 
help you determine the best course of action for your 
individual circumstances.

 Feed free to call my office and schedule a time 
for us to sit down and talk about your situation, 
where we can identify the best strategies for you and 
your family to ensure you leave a legacy of love and 
financial security, no matter what. Call 626-355-
4000 today or visit www.GarlettLaw.com for more 
information.

 

Marc, a local attorney, father, and CASA volunteer 
(Court Appointed Special Advocate for Children) is 
on a mission to help parents protect what they love 
most. His office is located at 49 S. Baldwin Ave., Ste. 
G, Sierra Madre, CA 91024.


WHAT IS YOUR WHY?

If you ask me to “Like” your Facebook page, follow your tweets or join your email list, I want to 
know why. What’s in it for me? Do I become a member of an exclusive club? Will I get something I 
can’t get anywhere else? Is your content something that helps me, educates me, inspires me or puts 
a smile on my face?

The main reason people subscribe to social media and email content from a business is to receive 
discounts, promotions and exclusive content.

If you haven’t thought about your “why” lately, it might be time to define it further. Make a list of 
10 reasons people should subscribe to your on-line content. Here are a few ideas to get you started:

• Like us on Facebook for exclusive discounts – coupons
• Follow us on Twitter for updates on new product releases
• Join the conversation on Twitter. Provide a hashtag and start a conversation about a topic 
related to your industry.
• Like us on Facebook for trending news about ___________ 
• Join our email list for insider rewards
• Subscribe to our Birthday Club 
• Subscribe to our email list for tips and tricks
• Subscribe to our email list for a schedule of __________
• “Like” us on Facebook for a sneak peek behind the scenes
• “Like” us on Facebook to receive _______________


What is your Why?

About MJ: MJ and her brother David own HUTdogs, a creative services business that specializes in 
Internet Marketing strategies and Social Media. They offer social media management services and help 
their clients build a strong on-line presence. “Like” them on Facebook for trending news in social media, 
internet marketing and other helpful tips, www.facebook.com/hutdogs.

Sign up for their upcoming classes, webinars and presentations at: www.hutdogs.com/workshops/
schedule 


How to Avoid Fraudulent Jobs

Job hunting is tough enough, but there 
are people and organizations that want to 
take advantage of you during your career 
efforts. Your personal information, 
intellectual property, money, and more 
can be at risk during all aspects of your 
job hunt.

 The objectives of this presentation are 
to make you aware of common scams, 
show you how to identify questionable 
job practices, and tell you what to do if 
you are the victim of a fraudulent job.

 Presenter Tom Lenzo has seen many 
fraudulent jobs during a career working 
in training, organizational development, 
technology, and security. He is an identity 
theft investigator (volunteer) with the 
Pasadena Police Department, and is a 
member of the FBI’s InfraGard program, 
specializing in cybercrime. Tom is also a 
Women at Work volunteer.

When: Wednesday Sept. 17, 2014

 Doors open at 5:15

 Presentation 5:30 - 6:30

 Networking 6:30 - 7:00

Where: Women At Work

 2555 E. Colorado #204, Pasadena

Cost: Women at Work clients – a 
contribution, please. Employed Guests: 
$5.00


Mountain Views News 80 W Sierra Madre Blvd. No. 327 Sierra Madre, Ca. 91024 Office: 626.355.2737 Fax: 626.609.3285 Email: editor@mtnviewsnews.com Website: www.mtnviewsnews.com