Realtors hear about capital gains, estate planning
By LYNDA KINSEY
Staff
Lorra Phillips and Jessica Revell of Shepard Accounting & Tax Services were the key speakers at the September Wakulla Chapter of the Tallahassee Board of Realtors luncheon on Thursday, Sept. 5th – along with attorney Paula Sparkman of Messer Capparello Law Firm.
The main topic for Shepard Accounting was capital gains when selling your home. They gave pointers on how the taxes work in different scenarios: whether selling to family, selling your home after a spouse passes, how it changes if you re-marry during a certain time frame after the passing of a spouse, and exclusions for military or loss of a job.
Sparkman spoke about estate planning, probate and trust administration. She noted that planning is important for parents with young children – what if something happens to both parents: “Who’s going to raise your children?”
Sparkman said people with college-age children ages 18-25 may want to consider power of attorney for those young adults. She spoke unintended consequences of placing your home in your child’s name, Lady Bird Deeds and how to avoid probate.
“No matter your age, you should have something in place,” Sparkman said, adding there is no one-size-fits all to planning.
Some announcements at the luncheon:
Mary Wallace reminded everyone of the Joy Filled Journey Festival of Joy to be held at The Lodge at Wakulla Springs, Sept. 21, from 1 to 4p.m. with carnival games, prizes and more.
Anthony Gifford announced that he is running for President Elect with the Tallahassee Board of Realtor for 2025 and asked for everyone’s vote.
Ralph Thomas announced that he had been with Amerifrst Home Mortgage for 21 ½ years, Union Home Mortgage for 1½ years and will now be moving to LoanDepot.
The September Sponsor for the Realtors luncheon was D.R. Horton and was held held at the Seineyard at Wildwood.
Lynda Kinsey is the sales and marketing representative for The Wakulla Sun.
