PODCASTEpisode 18 – Real Estate & Estate Planning: The Fundamentals (Part 1)
Mark Twain once said, "Buy land, they're not making it anymore."
In Part 1 of this two-part series, attorneys Dave Shaffer and Tom Rickettson explore how real estate—often the largest asset most people own—plays a critical role in estate planning. From understanding what's on your deed to knowing how different ownership structures affect what happens at death, this episode breaks down the fundamentals of real estate in the trusts and estates world.
Dave and Tom discuss the most common ways married couples and co-owners take title to property, including tenants by the entirety, tenants in common, and joint tenants with rights of survivorship. They explain why the timing of when you purchased your home matters, share a real-world example of a couple caught off guard by how their deed was titled, and explore the life estate concept—a tool elderly parents often use to stay in their home while simplifying the transfer to their children.
The episode wraps up with a "Show and Tell" segment on HBO's hit show Succession, highlighting why planning ahead while everyone is still of sound mind is essential, whether you own a modest home or a 10,000-acre ranch.