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Why the Delaware Statutory Trust can potentially be a good solution when your heirs are not interested in inheriting your rental property - by Dwight Kay
Kay Properties founder Dwight Kay discusses estate planning for rental owners whose children do not want to become landlords. In a New York Real Estate Journal column, he presents professionally managed Delaware statutory trust interests as a possible way to retain real estate exposure while reducing the operating responsibilities passed to heirs.
The article encourages early discussions involving family members, attorneys and tax professionals, particularly when beneficiaries have different financial goals. Its risk disclosures also identify illiquidity, lengthy holding periods and possible loss of the entire investment. The proposed planning approach therefore should not be read as a promise that heirs can immediately sell their interests or receive assured income.
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