Home Sweet Home: Deciding to Downsize or Keep Your Home in Retirement

For most people, their house is their biggest asset. It’s also their most considerable expense. Our experienced California estate planning attorneys understand that your house is more than an asset or an expense. It is your home, and there are pros and cons to selling your home when you retire.

What to Do With Your House in Retirement

There are financial and personal reasons to stay in your home after you retire. For example, you may decide to stay in your home to be in a familiar place where there are cherished memories. However, there are many factors to consider when deciding to move from or stay in the place you’ve lived for many years.

Reasons to Remain in Your Home

Save money
Be close to your family or social network
Stay where you are comfortable and happy

Reasons to Sell Your House

Your house is too big for your needs
You need cash to pay for other things
You want to move to be closer to family or friends
You need to move to a more accessible living space

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Let Our Estate Planning Attorneys Guide You

Deciding what to do with your home after retirement can be a complicated issue. Our attorneys can help you by having you consider all the issues and by helping you evaluate the following:

The value of your home in the current housing market
Where you will live next and what it may save you in property taxes, insurance costs, and maintenance repairs
Whether your home is paid off or you still carry a mortgage, and what that means long term
Whether you want to leave your home to an heir

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Do You Need to Speak With an Estate Planning Attorney?

If you need to speak with an experienced estate planning lawyer, please contact us online or call us directly at 800.756.5596 to first register for one of our free, informative seminars. Your attendance will qualify you for a special discount for our estate planning services should you decide to make a free appointment at the conclusion of the seminar and choose to proceed with us. Our estate planning law firm proudly serves clients throughout California from our main office in Torrance, as well as those in Redondo Beach, Manhattan Beach, Hermosa Beach, Segundo, San Pedro, and Rancho Palos Verdes.

Philip J. Kavesh

Helping clients with customized estate planning guidance and trust & estate administration for over 44 years.

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Kavesh, Minor & Otis provided a lot of initial information regarding living trusts and estate planning through their webinar. Consultation with Peter Keon helped guide me through the process, my options and create my living trust. I feel more secure knowing I have things in order. I highly recommend Kavesh, Minor & Otis to others who are considering a living trust. Tracy W.

After the passing of both my parents, father in 2018 and mother in 2020, I decided it was time for me to establish a living trust. The living trust webinar was very informative. I contacted the firm to schedule a consultation with Peter Keon. Peter was very thorough and responsive to my needs in creating a living trust. As we were still under COVID-19 limitations at the time, we were able to accomplish everything via phone conversations and email. I highly recommend Kavesh, Minor & Otis to anyone who wants to create a living trust or have a living trust that may need updating. Tracy W.

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