Building Generational Wealth with Real Estate.
Building generational wealth is a goal for many families. However, that goal can feel daunting. Therefore, it’s important to start wherever you find yourself today. For many families, their home is their largest investment. It is critical to protect that family asset for yourself and future generations. By investing in real estate and ensuring proper legal documents are in place, families can offer a source of generational wealth.
Estate Planning
Florida Realtors published an article titled, “Protecting Generational Wealth With Real Estate”. The author of the article emphasizes the importance of will and estate planning for every individual. It is not only elderly people or wealthy people who need to engage in estate planning. Even for average Americans, it is essential to establish a plan for their estate and have the necessary documents in place.
When a homeowner dies without a will and without another person on their property’s deed, the title becomes “fractured” or “tangled”. The property is then known as an “heirs’ property”. As such, it is very difficult to properly manage or sell the property. As a result, the generational wealth that home could have offered is then compromised. It could be a long and lengthy legal process to determine ownership of the property. Ultimately, the inheritance of the property may not be distributed in a way that the original owner would have wished.
Advantages of Real Estate Investing
Beyond protecting your most basic assets, real estate investments can be used as a powerful and lasting source of generational wealth. Indeed, it is with real estate that some of the most famous wealthy families have built and maintained generational wealth. Significantly, the real estate empire of the Rockefellers is one to imagine. The Forbes article, “Why Real Estate Is One Asset That Builds Generational Wealth” explains the appeal of real estate as a generational wealth building engine. The advantages of real estate investing for the purposes of preserving family money include passivity, illiquidity, easily transferrable, sustainability and predictability.
Fluid Realty
Are you ready to secure your family’s future with real estate? Reach out to us today. The Fluid Realty Team is Jacksonville’s top real estate group and local boutique brokerage. We provide a full-service experience with the best realtors in the area. Our expertise includes luxury beach real estate within the four Beaches of Jacksonville, FL: Atlantic Beach, Neptune Beach, Jacksonville Beach, and Ponte Vedra Beach.
