A look at what's going on in Trinidad, on H Street, and in the larger area north of Capitol Hill.
Saturday, January 05, 2008
NYT: Heirs to A Headache
The New York Times has an interesting piece on the complications that result when multiple heirs inherit shares in real estate holdings. Another good reason to plan your estate carefully.
9 comments:
Anonymous
said...
thanks, inked. this is particularly relevant to me.
estate planning is just one of those things that most folks don't consider until .... too late.
i'm happy with our planner, and wouldn't hesitate to suggest her to anyone interested.
It's a really important topic. I took a class in trusts and estates last semester and found it very compelling. I also ran into a couple of people back home who were having issues with neglected properties that had been inherited by multiple parties and were quickly becoming overgrown and having other issues. I'm taking estate planning this semester so hopefully I'll learn more about the area.
I thought people in the area might be interested in the topic because this is clearly a problem with multiple properties around here. This morning I had tea at SOVA with a friend and he told me that a very problematic, read big attraction for certain drug dealers, vacant lot was passed on by a man to his daughter, but before he died reportedly he told her to never sell it to a white person. She died, and the property has now passed to her church, but still sits vacant and neglected. Do you really think the intent of that old man was to create an eyesore and menace to the neighborhood?
But seriously, as if there are no black developers. It's just another example of the dead hand having unforeseen consequences that everyone else is forced to suffer.
Maybe I should have used a different example. If the man really did give his daughter those instructions that's a problem, but what I was trying to focus on was family members, particularly when you have one or more heir holding the real property, may hold on to properties for sentimental reasons [or because the estate was complicated and the heirs are overwhelmed], but the actual effect on the surrounding community can be devastating when those properties aren't maintained.
9 comments:
thanks, inked. this is particularly relevant to me.
estate planning is just one of those things that most folks don't consider until .... too late.
i'm happy with our planner, and wouldn't hesitate to suggest her to anyone interested.
It's a really important topic. I took a class in trusts and estates last semester and found it very compelling. I also ran into a couple of people back home who were having issues with neglected properties that had been inherited by multiple parties and were quickly becoming overgrown and having other issues. I'm taking estate planning this semester so hopefully I'll learn more about the area.
I thought people in the area might be interested in the topic because this is clearly a problem with multiple properties around here. This morning I had tea at SOVA with a friend and he told me that a very problematic, read big attraction for certain drug dealers, vacant lot was passed on by a man to his daughter, but before he died reportedly he told her to never sell it to a white person. She died, and the property has now passed to her church, but still sits vacant and neglected. Do you really think the intent of that old man was to create an eyesore and menace to the neighborhood?
considering that white people are a minority in this city, i'd say the daughter was too bright if she couldn't find a non-white person to sell it to.
oops. make that was NOT too bright.
lol @ typos in intellectually elitist messages. divine karma.
But seriously, as if there are no black developers. It's just another example of the dead hand having unforeseen consequences that everyone else is forced to suffer.
Or that dead guy was just another racist in DC. Yes, racism cuts both ways.
Or that dead guy was just another racist in DC. Yes, racism cuts both ways.
Oh yeah, because racist Black people are really the problem.
Maybe I should have used a different example. If the man really did give his daughter those instructions that's a problem, but what I was trying to focus on was family members, particularly when you have one or more heir holding the real property, may hold on to properties for sentimental reasons [or because the estate was complicated and the heirs are overwhelmed], but the actual effect on the surrounding community can be devastating when those properties aren't maintained.
to anon954,
Any racism is a problem. If you want equality, you have to participate in equality for all people.
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