Making Real Estate Dreams Come True with a Team Approach!
Real Estate Planner – what is it, and why do you need to work with one?
Join Us on Feb 21st in Maple Grove for a FREE Community Education Seminar on the Reasons Why You Need to Make a Well-Rounded Plan Today!
We're covering those topics you didn't know that you didn't know which could leave your real estate assets vulnerable and your family in stress if you were not suddenly here tomorrow. We're also covering tax-saving considerations and generational wealth-building topics!
Meet Lori Millam, certified Real Estate Planner
We’re excited to share a new designation that Lori Millam worked toward pursuing this year (2023) with the primary goal of increasing her knowledge base about other areas of real estate that are not traditionally addressed by licensed REALTORS® but are becoming increasingly more important to homeowners and prospective investors.
Keep reading to learn more about the importance of building sound financial portfolios and generational wealth through sound real estate planning
strategies and how a certified Real Estate Planner can make that process more successful.
What is a Real Estate Planner?
In our experience as an award-winning real estate team in Minnesota, we have come to realize our shortcomings when it came to expanding real estate concepts, strategies, and resources beyond a transactional listing and sale of a home.
In fact, most licensed real estate professionals are not versed in expertise beyond that transaction. That doesn’t make them inadequate or incompetent professionals of the industry — only limited in how and how far they can help service and guide a client when it comes to building wealth through the tool of real estate.
Real Estate Planners look more deeply and from a holistic eye at a property owner’s real estate holdings. They can aid homeowners and investors in building, protecting, and transferring generational wealth using the acquisition and transfer of real estate.
When it comes to sound financial strategies, they also know that it takes an army.
They build bridges with key professionals — building a team of stakeholders who are just as invested in your success.
CPAs and Tax Advisors
Trust and Estate Attorneys, Real Estate Attorneys, Elder Law Attorneys, and Bankruptcy Attorneys
Packing and Moving Specialists
Retirement Community and Care Home Managers
Health/Medical Care Case Managers
Having a strong team ensures Real Estate Planners can help clients create amazing wealth and financial legacy.
What areas can a Real Estate Planner Help With?
Collaborating with a Real Estate Planner can positively influence wealth-building success no matter your age — whether you’re in your 20s, 30s, 40s, 50s, or older. A Real Estate Planner’s expertise can benefit you in the foundational building phase, growing, and through retirement.
Here are just three examples of where a Real Estate Planner becomes invaluable:
1. Wealth Protection and Tax Planning
At the beginning of adult life, Real estate Planners can assist in wealth planning guidance and protection strategies as well as provide you with valuable connections and resources to help you succeed in your goals. From creating an estate plan or setting up a trust, Real Estate Planners can help educate individuals about the value of establishing steps toward building wealth and protecting those assets.
Additionally, tax planning resources and advice can help property owners save or defer taxes and make it more possible to continue investing and
Planning for life’s unexpected changes can be one of the most effective ways to protect assets like a home, investment property, or even personal property and ensure the ability to transfer that wealth to the next generation.
2. Planning for Retirement and the Transfer of Wealth
A Real Estate Planner is an effective and essential resource to have at your disposal when you’re no longer building your portfolio relative to your overall income, work, and career and are, instead, focused on planning for retirement.
You may want to diversify and simplify your assets. You may not need to have as large of a return on your investment as previously because your
nest egg is securely in place.
So, what’s the next step?
How do you transfer some of those assets out of your name and into someone else's?
How do you protect or defer capital gains taxes?
How can you ensure you can live comfortably off your gains and care for yourself, physically and medically, as you continue to age?
These are common questions and concerns that a Real Estate Planner can help you work through – walk through. They help you create a strategy and a plan to achieve your goals and overcome obstacles during this time of transition.
There are many directions someone may not even think about unless they’re in the throws of buying or selling property. And, since a transaction of that magnitude typically only happens every 5, 10, 20 years — it benefits you to strategically plan for future shifts with a Real Estate Planner today.
3. Downsizing Property
When it comes to retirement, moving yourself into a retirement community, or moving your mom or dad into a healthcare solution property, there’s
a lot of planning that needs to be considered.
A Real Estate Planner can be extremely beneficial during this time as they can see both high-level goals and needs while also planning for
those individual taxing tasks that need to be tackled — from planning, organizing, and deploying the physical act of downsizing personal property and moving it from one area to another.
There’s a lot to digest emotionally and prioritize during a transition like this.
Real Estate Planners align themselves with experts and professionals in the local area, such as professional packing solutions, move managers, retirement facility managers, and even in-home healthcare providers who can help you coordinate your move and ease the stress and strain of a massive
change like this.
From a higher-level perspective serving topics of finance, Real Estate Planners can help you coordinate change and fluctuations in income and tax strategies served by CPAs, trust or estate attorneys, tax strategists, financial planners, and more.
A Real Estate Planner’s ability to look at all of this holistically can ensure a much higher level of service and success for individuals and families.
Real Estate Planners Help You Best Capitalize on Your Financial Goals — Throughout Any Stage of Life
It’s the goal and mission of a certified Real Estate Planner to offer clients the knowledge, advice, and direction needed to make strategic decisions about their financial and generational wealth-building goals.
Learn more about these four distinct areas of a Real Estate Planner Certification: