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Tag: estate

  • In Los Feliz, a Hearst heiress’s estate asks $21.5 million

    A Spanish Colonial-style mansion tucked in the hills of Los Feliz just hit the market for $21.5 million. If it gets its price, it would be among the neighborhood’s priciest sales ever.

    It’s owned by Lydia Hearst, great-granddaughter of newspaper magnate William Randolph Hearst, and her husband, actor-comedian Chris Hardwick.

    Sales north of $20 million are typically reserved for the tony enclaves west of the 101 Freeway — Beverly Hills, Bel-Air, Brentwood — but there’s a precedent for blockbuster deals in Los Feliz. Hearst and Hardwick set the neighborhood price record when they bought the home a decade ago for $11 million, and that record has been topped by several sales, including ones involving Angelina Jolie, who bought the famed DeMille estate for $24.5 million in 2017, and Brad Pitt, who sold his Craftsman compound two years ago for $39 million.

    Named the Victor Rossetti Residence after the banker it was built for in the 1920s, the house was designed by Paul R. Williams, the prolific, trailblazing architect whose architectural imprint can be seen across Southern California, including the Beverly Hills Hotel and the futuristic Theme Building at LAX.

    Designed by Paul R. Williams, the main house features ornate ironwork, stained-glass windows and colorful tile.

    (Rodeo Realty)

    Here, Williams deployed coffered ceilings, ornamental ironwork, stained-glass windows and colorful tile across two stories and nearly 9,000 square feet. In addition to 10 bedrooms and 11.5 bathrooms, there’s a wood-paneled library, wine cellar, pub and hidden bookshelf door that leads to the lower level.

    Outside, the one-acre grounds boast a garden, koi pond, citrus grove, swimming pool, pool house and guesthouse.

    Sharon Hills of Rodeo Realty holds the listing.

    Over the years, the Hearst clan has laid claim to some of California’s most impressive estates. In addition to the Hearst Castle, William Randolph Hearst’s grand showplace in San Simeon, the publisher also owned a Beverly Hills mansion known as the Hearst Estate, as well as a 100-room compound on the sand in Santa Monica, which is now known as the Annenberg Community Beach House.

    Jack Flemming

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  • Nora District’s debut: Old warehouses set to open as new West Palm Beach destination

    Nora was created by real estate investors who wanted to blend history with modern touches to attract shoppers, diners.

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    • The $1 billion project transformed a rundown area north of downtown West Palm into a trendy neighborhood with a mix of old warehouses and new buildings.
    • Retailers, restaurants, and fitness centers are set to open in Nora in phases, with a hotel and apartments planned for the future.
    • The West Palm Beach project gained momentum during the pandemic as businesses and residents relocated to Palm Beach County.

    The Nora District, a long-awaited dining, shopping and entertainment neighborhood in West Palm Beach, finally is about to open.

    More than seven years in the making, the $1 billion Nora development is the culmination of an ambitious plan by a small group of real estate investors willing to take a chance on a rundown part of the city.

    Starting in 2018, these investors began buying up old warehouses, boarded-up properties and vacant sites just north of the downtown. These were the properties in and around North Railroad Avenue facing the Florida East Coast Railway, which was built by industrialist Henry Flagler in the late 1880s.

    More: From warehouses to restaurants: New West Palm district’s transformation to begin this year

    The investment group envisioned something special: a hip, new neighborhood blending history with modern finishes.

    The investors designed the district around North Railroad Avenue, the area’s western boundary and the district’s designated Main Street. Then they named the entire project Nora, short for the avenue’s name. The Nora District is just west of North Dixie Highway between 7th Street and Palm Beach Lakes Boulevard.

    Nora features buzzy retailers, restaurants in downtown West Palm Beach

    Using a mix of old warehouses and new construction, Nora’s partners created ground-floor spaces for buzzy and in-demand retailers. This includes casual and upscale restaurants, activities for families, and a smattering of luxury stores.

    Nora also includes the hottest players in boutique fitness centers, plus several beauty retailers and services.

    A few of the project’s 20 retailers plan to open in late August and September, while others will open by year-end, and more stores and eateries will open in 2026.

    Eventually, people will be able to stay and even live at Nora.

    In the fall of 2026, look for the opening of the 201-room Nora Hotel by Richard Born and Ira Drukier of BD Hotels, along with acclaimed hotelier Sean MacPherson.

    The Nora Hotel will feature a rooftop pool and bar. It also will feature a signature restaurant, Pastis, the famed New York City Parisian-style brasserie. 

    Meanwhile, Nora’s developers are seeking approval from the City of West Palm Beach for an 11-story, 350-unit apartment complex along 10th Street at North Railroad Avenue.

    In addition, Nora hopes to build an 11-story condominium at 1105 N. Dixie Highway.

    If Nora sounds like an overnight sensation, it is not. Backers said the project required timing, creativity, patience − and a large dose of luck.

    More: Nora District: Sneak peek shows new WPB neighborhood with restaurants, stores

    How a simple plan for West Palm turned big after a global event

    The property purchases began around 2018, with a plan by NDT Development to rehabilitate a couple of old warehouses into new restaurant spaces.

    But the redevelopment plan grew bigger, and over time, the group bought more and more property. Eventually, NDT joined with Place Projects, an early developer of Miami’s Wynwood neighborhood, and Wheelock Street Capital to create the Nora District. The 40-acre district is the city’s largest redevelopment since CityPlace, which opened in 2000.

    When the global COVID-19 pandemic hit in 2020, a surge of companies and residents moved to Palm Beach County from the Northeast.

    Soon several Northeast restaurateurs and retailers expressed interest in following their customers to Palm Beach County, said Francis X. Scire, Nora’s leasing director. These include eateries from New York and Boston.

    More: Nora: West Palm plans to recreate Wynwood vibe in northern section of city

    During the past three years, Scire said he’s charted the growing interest, and the caliber, of the companies wanting to be what some consider one of the hottest cities in the country.

    “We’re a thriving metropolis and they needed to get a flag down here,” Scire said. “Nora was the best product coming online. It was the obvious choice.”

    Coffee, cars and a big bet on the future of the Nora District

    Sunday Motor Co. is one example. The coffee shop from Madison, New Jersey, has launched a soft opening in a converted warehouse at 7th Street and North Railroad Avenue, the southern corner of the Nora District.

    Sunday Motor is among the first restaurants to open at Nora. With its auto-themed accessories and memorabilia, it promises to be a welcome gathering spot for coffee and car aficionados, non-car lovers and everyone else.

    A daytime menu featuring breakfast and lunch items will be offered at first. Then, about a month after opening, Sunday Motor will launch evening service, featuring a different menu as well as beer and wine, according to Nick Vorderman, who owns the coffee shop with his wife, Renee Mee.

    The expansion to Florida began in 2023 when the Vorderman family bought a house in West Palm Beach’s Flamingo Park to visit with relatives in Jupiter.

    Soon after, the couple began taking a look around West Palm Beach. This was about the same time that Nora’s leasing director was trying to find a coffee shop.

    Scire said he wanted the perfect “third place,” a location that isn’t home or work but another setting for gathering. After sifting through 37 possible coffee shops, he settled on Sunday Motor’s creative and welcoming vibe.

    In a brief telephone interview on Aug. 13, Nick Vorderman was busy putting the finishing touches on the new Nora location.

    But in between the last-minute frenzy, Vordeman said he was looking forward to the shop’s opening. “We’re all very excited,” he said. “It’s been a long road to get to this point.”

    Nora’s eight other eateries range across a broad spectrum of cuisine. Several hail from the Northeast, too. Coming from Boston is Loco Taqueria & Oyster Bar. From New York, look for H&H Bagels, Van Leeuwen Ice Cream and Juliana’s Pizza. New York’s The Garret Group also plans a sports bar. Also opening at Nora are Indaco, a restaurant featuring rustic Italian-inspired cuisine; Del Mar Mediterranean; and local operator Celis Juice Bar.

    In the beauty and wellness space, Nora will feature Sweat440 and SolidCore fitness facilities; service retailers such as Sana Skin Studio, The Spot Barbershop and IGK Salon hair care; Le Labo Fragrances; and ZenHippo early childhood activities.

    Finally, three other retailers also are in the mix. They are Warby Parker eyewear; and two women’s clothing boutiques, Pompanos and Mint.

    A new use for old West Palm Beach buildings

    In a 2021 interview, back when Nora first was being sketched out, Place Project’s Joe Furst said the land assemblage by NDT was complicated, rare and vital to create an area with thoughtful planning and design. 

    A lot of times, developers either can rehabilitate old buildings or build new ones in an area, but not both, Furst said.

    However, at Nora, rehabbed warehouses complement newly-built places, so “you still have that Main Street feel,” he said.

    Indeed, historical flourishes are a part of making it feel authentic, said Damien Barr, a partner in the NDT Development group.

    “We were very intentional,” Barr said during a recent tour of Nora.

    Visitors to Nora need only look down for proof. Lining the district’s sidewalks are railroad ties, a nod to the nearby railway that first breathed life into the city and continues to inspire new uses for this old part of town.

    Alexandra Clough is a business writer at The Palm Beach Post. You can reach her at aclough@pbpost.com. X: @acloughpbp. Help support our journalism. Subscribe today.

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  • Ranking the Netflix Real Estate Shows by Juiciness of Agent Drama

    Ranking the Netflix Real Estate Shows by Juiciness of Agent Drama

    If you’ve logged onto Netflix at all recently, you’ve probably seen at least a few real estate shows pop up on your recommended list, with titles evoking the glamor and fame that one presumably achieves with a clientele predominated by plastic surgeons. From Paris to Tampa to Beverly Hills, these glossy reality series bring the best of unscripted television tropes to the world of luxury home sales, with agents whose egos are even bigger than their properties’ primary suites. Between the OG that started it all, Selling Sunset, and new additions like Owning Manhattan, we’re slowly witnessing the growth of a thrilling new subgenre I’ll tentatively brand “Real(i)ty TV.”

    While the glitz and glam of the houses on display are essential to the shows’ appeal, that’s not what these programs are really about. If it’s pure real estate porn you’re after, you can head to ol’ reliable HGTV and stuff yourself with episodes of House Hunters and its exponential offspring. Netflix’s beloved real(i)ty shows, on the other hand, are for those of us who want drama—who thrive off the chaos of ambitious, plasticky people crying in Teslas and boasting about commission rates in home movie theaters.

    Thus, it feels only right to analyze these shows (for brevity’s sake, only the tip of a steadily growing iceberg) by ranking their dramatic value. Never mind the properties’ cost, square footage, or resale value; the more important criteria here are things that numbers cannot express, such as vanity, envy, horniness, and hot tub make-outs. Let us dive into the world of real(i)ty TV not with housing at the forefront, but with all the shady stuff that goes down when listing agents are at play.

    5. Buying London

    Meet Daniel Daggers: a bespectacled British man who, first and foremost, earnestly calls himself “Mr. Super Prime” and, secondly, heads the luxury London property group DDRE Global. Daggers considers himself the great disruptor of London’s real estate market, mainly because he’s shaped his team of international agents into savvy lifestyle influencers and he spends his free time ramming into desks around his office as he tours homes via a VR headset. While Buying London ranks undeniably high on the Posh British Accent-ometer and features a truly smashing soundtrack of generic British girl pop, it is unfortunately lacking in the juicy drama we’ve come to expect from other British reality hits like Love Island.

    There’s no shortage of charming moments: Agent Oli Hamilton (who looks like a yassified version of Severus Snape) flexes his unmatched pinstripe suit collection, and the team embarks on a group meditation session followed by gourmet smoothies. But the show simply doesn’t have enough petty plotlines to fill its seven-episode season, which means that, instead, we get a montage of Oli receiving a “total style makeover” (wearing a beanie) and scenes of Daniel’s parents insisting he find a wife before they die. I agree with Daniel’s mother that “it’s a pity” he isn’t pursuing love—not because I necessarily care about whether he finds a Mrs. Super Prime, but because watching men with big egos and deeply unbuttoned shirts bumble through dates is one of life’s great pleasures.

    The one semi-dramatic plotline on Buying London is Oli’s flirtationship with DDRE’s Swedish interior designer, Juliana Ardenius (who just happens to be a former model and Miss Teen Universe contestant). Their chemistry is … not exactly electric but, nevertheless, palpable enough to arouse the suspicions of Oli’s non-model/non–Miss Teen Universe wife, Avia, who later confronts Juliana over drinks. But even this minor tiff ends up resolved at a later company party, when Juliana tells Avia she “would never go for Oli in a million years,” and they toast to “a fresh start.” (Pour one out for Oli, who definitely got a self-confidence boost from being the kingpin of a half-baked love triangle.)

    4. Owning Manhattan

    Ryan Serhant, founder of the self-titled real estate brokerage SERHANT., claims to have done over $8 billion in property sales. He also wrote a book called Big Money Energy, and—as he refuses to let anyone forget—is a cool 6-foot-3. (His favorite pastime is standing in property photos to demonstrate a condo’s very high ceilings.) Ryan’s all-star team of agents sells properties across Manhattan and some of the bougier areas of Brooklyn, giving us viewers a much-needed reminder that Williamsburg hasn’t been “gritty” for a good 20 years. The show is ripe with other endearing (annoying) New York-y things, such as agent Chloe Tucker Caine being a former Broadway star (and, thus, the person who assesses the vocal acoustics of newly listed penthouses) and agents patiently explaining to old-school Manhattanites what influencers are.

    There’s nothing too juicy going down at SERHANT., with the lack of workplace romance proving especially upsetting considering everyone looks like a grown-up Gossip Girl character. As with any good New York story, we see the agents hustle for power and status, with a refreshingly innocent subplot following Southern belle agent Savannah Gowarty’s transition to life in “the big city.” Meanwhile, the firm’s Brooklyn expert, Tricia Lee, must fight to have her voice heard among the big bad Manhattan agents, including Nile Lundgren (whose bald head–singular hoop earring combo tells us everything we need to know about him).

    The real standout of Owning Manhattan, however, is Jonathan Normolle, a Danish nightlife junkie who believes that having neck tattoos makes him “the next generation” of real estate. He’s like a Jersey Shore cast member who overstayed his welcome in Europe and now raves about leather parties and pickled herring, so, naturally, he becomes the series’ sole villain and tragic Icarus figure. (In trying to achieve podcast stardom, Jonathan, alas, flies too close to the sun.)

    Though watching Jonathan’s rise and fall—from real estate wunderkind and model to … just model—is plenty satisfying, there’s nothing that leaves us grasping for more by the end of the season. Sure, we find Ryan scrambling to save face after losing out on a major deal, but that’s the boring business stuff (a.k.a. what HGTV is for). This is Netflix, baby, so bring on the gossip, backstabbing, and betrayals!

    3. Buying Beverly Hills

    Now in its second season, Buying Beverly Hills focuses on Mauricio Umansky, founder and CEO of the Agency, a global real estate brokerage based out of L.A. As the husband (spoiler: now ex-husband) of Real Housewives star Kyle Richards, Mauricio was predestined for reality show success, and it also doesn’t hurt that his top agents are his three oldest daughters, all of whom are as business savvy as they are skilled at applying bronzer. Ladies and gentlemen: King Lear.

    The show delivers on its family drama. In the latest season’s subplots, middle daughter Alexia feels slighted by her other sisters’ newfound closeness, Mauricio and Kyle casually discuss the latter’s cheating allegations while preparing an Italian salad, and Alexia partners on a deal with Joey Ben-Zvi, her smarmy ex-boyfriend turned colleague, who—it must be noted—wears sunglasses indoors and sweaters as over-the-shoulder accessories. There’s also eldest daughter Farrah’s separation from her fiancé, Alex, which leaves her emotionally distraught enough to take over a barely defined director of operations role and even sport leisure wear on camera.

    The true pièce de résistance of this season is the introduction of a new villain: Michelle Schwartz, a managing partner at the Agency who—for reasons apparent only to her—believes herself to be Mauricio’s obvious successor (never mind that they’re basically the same age). Joey’s early-season observation that “when you fuck with one Umansky, you fuck with all the Umanskys” proves quite prophetic when Michelle promises to mentor the Umansky girls only to later talk shit about them (calling them, among other things, “business suicide”).

    Thus comes an epic showdown (rooftop poolside spat) between the Umansky sisters and the Wicked Witch of the Westside, and, truly, there’s never been more damning jabs thrown with margaritas in hand. But really, Michelle’s comeuppance is just the cherry on top of a season jam-packed with big life changes, major power swings, and—get this!—men opening up about their emotions.

    2. Selling Sunset

    Where does one begin with a show that’s led by twin brothers who are 5-foot-6 and bald but nevertheless radiate machismo? Perhaps, to properly express the many, many dramatic arcs of the show’s latest season, we’re better off starting with its final episode, which (naturally) included the Oppenheim Group agents exploring their allegiances and darkest secrets via polygraph test moderated by … Tan France?

    Things at the Oppenheim Group have never been messier. Agents repeatedly hurl deeply personal insults at each other; newcomers are received with trepidation, if not outright hostility; and Bre Tiesi dishes on sleeping with Michael B. Jordan and co-parenting a son with Nick Cannon. There’s also endless use of the phrase “social climber,” which is apparently the equivalent of “whore” in the luxury real estate world, where being self-made is everything. Take a shot every time Nicole Young calls Chrishell Stause this if you want to get completely sloshed in under an hour.

    Oh, and Jason Oppenheim and his young, German model girlfriend, Marie-Lou, break up—but you already saw that coming. (Thank you to client/guest star Nikki Glaser for the acute observation that “for someone who doesn’t want kids, it’s weird that you’re dating one.”) Dating someone 20 years your junior is, it turns out, not always the surest path to true love, even if Marie-Lou did—as Jason never fails to mention—study economics at university. Way to go, Jason; you fumbled a relationship with the next Adam Smith.

    Meanwhile, Chrishell and her Australian musician partner, G Flip, go from the honeymoon stage of dating to literally honeymooning in a matter of months. They also reveal plans to have a wedding ceremony every year on their anniversary: an ambitious, not-at-all-annoying goal seemingly designed to give Jason, Chrishell’s ex, an annual reminder of what could’ve been. We don’t see much of G Flip this season, but, when we do, they always look fresh out of a Matrix movie or Hot Topic ad, so we’re led to believe that Chrishell made the right call based on vibes alone.

    1. Selling the OC

    I’m prepared to get flack for ranking a Selling Sunset spinoff higher than Selling Sunset itself, but, truly, nothing can top the flawless dramatic structure of the OC’s latest season, which checks all the boxes of the best telenovelas. To start, we get an unprecedented (and objectively baller) power move from agent Gio Helou when he sends a speedboat to carry attendees from his colleague Kayla Cardona’s open house to the one that he’s hosting just across the Bay.

    From here, things only get more chaotic at the Oppenheims’ OC office. A large chunk of the latest season consists of arguments about whether Austin Victoria did indeed ask fellow agent Sean Palmieri to join him and his wife for a threesome. (A question also arises of whether there would have been weed available at this threesome, which—to be fair—would have made for a more alluring proposition.) Like many of the great issues of our time, the truth of this alleged threesome proposal is left murky, which makes the whole ordeal all the more captivating. Among many other profound quotes, Austin remarks that the office is turning into a brothel and then tells Sean, “You’re not hot, bro … You’re making up rumors that my wife and I want to fuck you?!”

    The best subplot of Selling the OC is equally messy but far more romantic, following the will-they-won’t-they relationship of agents Tyler Stanaland and Alex Hall. The back-and-forth of it all is enough to put Pam and Jim and Ross and Rachel to shame: Alex even considers forgoing her trip to Italy with a new love interest after Tyler pleads with her to stay. (Never mind that he completely ignored her in the preceding weeks.) While the fact that (spoiler alert) they don’t work out is definitely for the best, it’s pretty great to watch them try to convince themselves otherwise. Real estate agents … they’re just as delusional as the rest of us!

    Holyn Thigpen is an arts and culture writer based in Brooklyn. She holds an MA in English from Trinity College Dublin and spends her free time googling Nicolas Cage.

    Holyn Thigpen

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  • From Heisman Trophy to SUV, O.J. Simpson property auction approved to pay off civil claims

    From Heisman Trophy to SUV, O.J. Simpson property auction approved to pay off civil claims

    O.J. Simpson’s Heisman Trophy, golf clubs, high-end sports utility vehicle and even his driver’s license will soon be sold to pay off a debt the infamous football star carried beyond his own death.

    A Nevada probate judge agreed Friday to a proposal by legal representatives of Simpson’s estate to auction “unique and high-profile” personal property, according to attorney’s representing the estate. It is not clear how much money the auction will raise, but it is intended to help pay a portion of a civil claim by the family of murder victim Ron Goldman.

    Thomas Grover, who represents Simpson estate attorney Malcolm LaVergne, said the estate was already “beginning the process to auction the items soon.”

    The action comes a day after Fred Goldman, father of slain waiter Ron Goldman, filed a creditor claim in Clark County District Court for $117 million against Simpson’s estate.

    Michaelle Rafferty, lead attorney for Goldman, said there were no objections from the Goldman family over the auction.

    “Our hope is that Mr. LaVergne will use very reputable auction houses and that those funds will come back to the estate,” Rafferty said Friday afternoon.

    Both sides are expected back in court next month.

    Ron Goldman’s family won a wrongful death civil case against Simpson in 1997, which found him liable for the murders of Goldman and Simpson’s ex-wife Nicole Brown Simpson. The family was initially awarded $8.5 million in compensatory damages.

    The jury later awarded $25 million in punitive damages to be split between Nicole Brown Simpson and Goldman family members.

    The civil victories came after Simpson’s famous acquittal in the double murder criminal case, known as the “Trial of the Century,” in October 1995.

    The 76-year-old Simpson died in April of prostate cancer.

    Fred Goldman and daughter Kim lamented that “true accountability has ended” with Simpson’s death. However, Fred Goldman continued pursuing civil collections.

    LaVergne was, at first, hostile to the idea of paying off the civil judgment, telling the Las Vegas Review Journal in an interview two days after Simpson’s passing that the Goldman family would “get zero, nothing.” “I will do everything in my capacity as the executor or personal representative to try and ensure that they get nothing,” he said.

    LaVergne mellowed, however, and vowed in an interview with The Times to “handle this thing in a calm and dispassionate manner.”

    LaVergne’s retraction did not surprise Rafferty.

    “The situation changes dramatically with a death,” she said. “Mr. LaVergne was representing his client personally, and now it’s about the estate, proceedings and addressing creditors.”

    Court documents from 2015 show the family has received about $132,000 of the total liability.

    The $117 million claim includes three renewed judgments against Simpson from 2015, 2016 and 2022 along with interest. Statutory interest alone from June 3, 2022, to July 25, 2024, accounted for an additional $20.7 million. Goldman is also claiming a daily amount of accrued interest of at least $16,638.73.

    It’s unknown what type of memorabilia or possessions remain on Simpson’s property.

    Rafferty said she had not received an inventory from LaVergne and does not know ultimately how much the Goldman family will collect.

    She said LaVergne was obligated to give notice about the intended auction houses, assets and opening bid prices.

    “We’ll look it over and we’ll have two weeks to object,” she said.

    Andrew J. Campa

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  • “We’re set for life. Should we cash out an RRSP?” – MoneySense

    “We’re set for life. Should we cash out an RRSP?” – MoneySense

    Withdrawing from an RRSP before age 70

    Are you thinking you’d like to withdraw everything from your RRSP before starting your OAS or age 70? This way, if you die after age 70, there’s no RRSP/RRIF to transfer to your wife, no resulting income increase for her, and therefore no OAS clawback. This sounds like a good idea; let’s play it out and see. Start by converting your RRSP to a RRIF (registered retirement income fund) so you can split your pension income with your wife; you cannot split RRSP withdrawals.

    To deplete your RRIF of $200,000 plus investment growth within five years, draw out about $45,000 a year and, at the same time, delay your OAS pension until age 70. The OAS pension increases by 0.6% per month for every month you delay beyond age 65 and if you delay until age 70 it will increase by 36%, guaranteed, and it is an indexed pension that will last a lifetime under current legislation.

    What may have been a little better is delaying your CPP as it increases by 0.7%/month and the initial pension amount is based off the YMPE (yearly maximum pensionable earnings) which has historically increased faster than the rate of inflation, meaning that by delaying CPP to age 70 it may increase by more than 42%. 

    With your RRIF depleted, your wife will not experience an OAS clawback if you die before she does. Mission accomplished, but we should question the strategy. What are you going to do with the money you take out of your RRIF and how much money will you have after tax? 

    Consequences of accelerated withdrawals from a RRIF

    I estimate that, in Ontario, your $45,000 after-tax RRIF withdrawal will leave you with $28,451 to invest. So, rather than having $45,000 growing and compounding tax sheltered you will have $28,451 growing and compounding. Ideally, if you have the room, you will invest this money in a tax-free savings account (TFSA), where it will also be tax sheltered, otherwise, you will invest in a non-registered account. A non-registered account means paying tax on interest, dividends and/or capital gains as they are earned, probate and no pension income splitting. 

    I should acknowledge that, if your intention is to spend the RRSP and have fun that is a perfectly suitable strategy, especially when you know the income, you need is $147,000 per year and you have indexed pensions to support that income. The problem for me is it makes for a short article, so let’s continue the analysis. 

    What would happen if, instead of drawing everything from your RRIF, you drew just enough to supplement your OAS pension while delaying it to age 70? What if, at age 72, your RRIF remains at about $200,000 and the mandatory minimum withdrawal is $10,800. You could split that $10,800 with your wife and not be subject to OAS clawback. Of course, when you die the RRIF will transfer to your wife, who will no longer be able to pension split and her OAS pension will likely be impacted.

    Stop trying to predict the future and enjoy your money

    Randy, I think you can see there is no clear-cut winning strategy here. Either draw RRSP/RRIF early or leave it to grow. You may read about strategies involving income averaging or early RRIF withdrawals to minimize tax, but often I find these to be more smart-sounding strategies rather than winning strategies. There are so many variables to account for, the analysis must be done using sophisticated planning software in conjunction with your life plan.

    Allan Norman, MSc, CFP, CIM

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  • Cross-border estate planning: What should Canadian parents with U.S. beneficiaries do? – MoneySense

    Cross-border estate planning: What should Canadian parents with U.S. beneficiaries do? – MoneySense

    The basics: U.S. estate tax for non-residents

    The U.S. imposes estate taxes on the worldwide estates of its citizens and residents. However, as a Canadian with no U.S. assets, you might initially assume that U.S. estate taxes do not apply to you. The catch here is that since your daughter is a U.S. permanent resident, her inheritance from your estate may generally not be taxable in the United States; however, there may be other tax and filing considerations to keep in mind. Let’s explore them together, Gail.

    U.S. estate tax thresholds and exemptions

    Currently, the U.S. federal estate tax exemption is quite high, sitting at $13.61 million per individual as of 2024. (All figures are in U.S. dollars.) This means that estates valued below this threshold are not subject to federal estate taxes. Assuming that your estate’s value is under $13.61 million, no federal estate tax would be due. For instance, if your Canadian estate is valued at $3 million, it is well below the $13.61-million U.S. federal estate tax exemption. Therefore, your daughter would not be liable for U.S. federal estate taxes on her inheritance.

    State estate taxes

    While the federal estate tax exemption is high, it’s important to consider that some U.S. states impose their own estate or inheritance taxes with lower exemption thresholds. The impact of these state taxes depends on where your daughter resides. As of 2024, the states of Washington, Oregon, Minnesota, Illinois, Maryland, Vermont, Connecticut, New York, Rhode Island, Massachusetts, Maine, Hawaii and the District of Columbia impose estate taxes. This means residents of these states might face both federal and state estate taxes, depending on the total value of the assets.

    Estate tax thresholds in these states range from $1 million in Oregon to $13.61 million in Connecticut, and tax rates vary. I would recommend that your daughter check her state’s website for specific details on potential estate taxes, Gail.

    Financial management and currency exchange

    Managing a cross-border inheritance often means dealing with multiple currencies. When preparing your estate plan, Gail, you will want to keep in mind some key points that your future executor will come across when distributing your estate to your daughter:

    • Currency exchange rates: Fluctuations in exchange rates can affect the value of the inheritance when converting from Canadian to U.S. dollars. For instance, if the Canadian dollar weakens against the U.S. dollar between the time of inheritance and the time of transfer, the value of the inheritance in U.S. dollars could decrease.
    • Banking and investments: Transferring funds and managing investments across borders may incur extra fees and require dealing with different financial institutions. For example, transferring funds from a Canadian brokerage account to a U.S. account might involve transaction fees, wire fees and foreign exchange fees.

    Cross-border legal challenges

    Handling a will with cross-border implications requires careful legal navigation. Key issues include:

    • Recognition of wills: Canadian wills are generally recognized in the U.S., but differences in probate laws can complicate the process. Legal advice in both countries is often necessary. For instance, if a beneficiary wants to sell an inherited Canadian property, they may need to follow both Canadian and U.S. legal procedures.
    • Asset transfer: Transferring assets like real estate or investments across borders may involve additional legal and regulatory steps. For example, transferring a Canadian investment account to a U.S. beneficiary might require navigating both Canadian banking regulations and U.S. tax reporting requirements.

    Practical steps for cross-border estate planning

    To ensure a smooth transfer of your estate to your U.S. resident daughter, Gail, consider the following practical steps:

    1. Consult with experts: Engage with a cross-border estate planning specialist who understands both Canadian and U.S. tax laws. These professionals have the expertise needed to navigate the complex rules and regulations involved in cross-border inheritances. They can help ensure that your estate plan minimizes taxes, avoids legal pitfalls, and complies with the laws in both countries, making the transfer of your assets as smooth as possible.
    2. Update your will: Make sure your will is current and clearly outlines your wishes. Specify exactly how you want your assets to be distributed, and think about any cross-border issues that might come up. This will help ensure that everything goes according to your plans when the time comes.
    3. Consider trusts: Establishing a trust can be a smart way to manage and transfer your assets. A trust is a legal arrangement where a trustee holds and manages your assets for the benefit of your chosen beneficiaries. By setting up a trust, you can ensure that your estate is managed efficiently, tax-effectively and according to your precise wishes. Consulting with a cross-border estate planning specialist can help you determine the best trust structure for your situation.
    4. Stay informed: Tax laws and regulations can change frequently, impacting how your estate is taxed and managed. To maintain the effectiveness of your estate plan, schedule regular reviews with a cross-border estate planning specialist. This proactive approach ensures that your plan remains up-to-date, legally compliant and optimized for tax efficiency, ultimately protecting your legacy and providing peace of mind.

    How to ensure a smooth transfer of your estate

    As you can see, Gail, cross-border estate planning for Canadian parents with U.S. resident children involves navigating complex tax regulations and potential pitfalls. While your estate may be valued under the federal threshold and might not face U.S. federal estate taxes, there are state taxes and other considerations that could impact its final value. By consulting with experts, updating your will, considering trusts and staying informed, you can ensure a smooth and tax-efficient transfer of your estate to your daughter.

    Debbie Stanley, TEP, MTI

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  • FBI reportedly contacts Riley Keough’s team about Graceland case as claim is dropped

    FBI reportedly contacts Riley Keough’s team about Graceland case as claim is dropped

    The Federal Bureau of Investigation may launch a criminal probe into possible fraud allegedly surrounding a now-blocked foreclosure sale of Elvis Presley’s famed Graceland mansion, according to TMZ and Radar.

    The outlets reported Wednesday that the FBI had contacted actor Riley Keough‘s team and Graceland officials on Tuesday, allegedly expressing interest in Naussany Investments & Private Lending LLC, the company seeking to auction off the building.

    The Tennessee Bureau of Investigation told The Times via email that it had not received a request to “investigate from the district attorney general in Shelby County, which would be the mechanism for our potential involvement.”

    Representatives for Keough did not immediately respond to The Times’ request for confirmation and comment.

    Keough filed a lawsuit against Naussany Investments last week, alleging that the company had presented fraudulent documents stating that her late mother, Lisa Marie Presley, had borrowed $3.8 million from the company and “gave a deed of trust encumbering Graceland as security.”

    The “Daisy Jones & the Six” star stated in her lawsuit — which asked a judge to block the auction of Graceland and to declare that the documents were fraudulent — that “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”

    A Tennessee judge awarded Keough a temporary injunction against the sale on Wednesday. The court also said it would move forward with the fraud case, citing a lack of appearance by Naussany Investments representatives at Wednesday’s hearing and the need for additional evidence from Keough’s lawyers.

    After the ruling, a person purporting to be a Naussany Investments representative submitted a statement that said the company would drop its claims on Graceland, the Associated Press reported.

    Elvis Presley Enterprises, which manages the Presley estate, told The Times in a statement Wednesday that business would continue as usual.

    “As the court has now made clear, there was no validity to the claims,” the statement read. “There will be no foreclosure. Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home.”

    Keough’s lawsuit, which was reviewed by The Times, said Naussany Investments presented a deed of trust for Graceland and a standard promissory note to the estate via the Los Angeles County Superior Court in September.

    The deed of trust contained the signature of Florida notary Kimberly Philbrick, who submitted an affidavit May 8 saying she had no involvement with the documents.

    “I have never met Lisa Marie Presley, nor have I ever notarized a document signed by Lisa Marie Presley,” Philbrick’s affidavit read. “I do not know why my signature appears on this document.”

    Keough was formally named the sole trustee of her mother’s estate — and, by extension, of Elvis’ estate — in November after settling a legal dispute with grandmother Priscilla Presley, Elvis’ widow.

    Angie Orellana Hernandez

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  • Riley Keough prevails in court to stop Graceland auction — for the moment. Fraud question remains

    Riley Keough prevails in court to stop Graceland auction — for the moment. Fraud question remains

    Elvis Presley’s granddaughter landed a partial victory in court Wednesday when a Tennessee judge upheld a temporary injunction blocking an auction and foreclosure sale of the late singer’s famed Graceland mansion. Still to be decided is whether the note and deed of trust in question are fraudulent documents.

    The ruling, confirmed by The Times, comes a day after actor Riley Keough obtained a temporary restraining order against the sale of the Memphis property by Naussany Investments & Private Lending LLC, which she alleged in a lawsuit might not even be a “real entity.”

    The sale had been scheduled for Thursday. Naussany Investments did not immediately respond Wednesday to a request for comment sent to an email address listed on court documents.

    Keough’s lawsuit, which was reviewed by The Times, said Naussany Investments presented documents to the estate via the Los Angeles County Superior Court in September. Those documents alleged that Lisa Marie Presley, Keough’s mother, had borrowed $3.8 million from the company and “gave a deed of trust encumbering Graceland as security.”

    The “Daisy Jones & the Six” star denied the claims, calling the documents “fraudulent” and “forgeries” in her lawsuit.

    “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” the lawsuit read.

    The deed of trust presented by the company was “purportedly acknowledged” by Florida notary Kimberly L. Philbrick; However, Philbrick submitted an affidavit stating she had no role in the matter.

    “I have never met Lisa Marie Presley, nor have I ever notarized a document signed by Lisa Marie Presley,” Philbrick’s affidavit read. “I do not know why my signature appears on this document.”

    Tennessee’s Shelby County Register of Deeds said Tuesday that it did not have any filed documents relating to a Graceland deed, according to broadcast outlet WREG Memphis, but a copy of a deed was attached in Keough’s lawsuit.

    Prior to Wednesday’s court hearing, a representative for Naussany Investments submitted a filing asking to continue the litigation, the New York Times. reported. Chancellor JoeDae Jenkins moved forward with the case, citing a lack of appearance by Naussany Investments representatives at the recent hearing and a need for additional evidence from Keough’s lawyers.

    It was unclear when the next hearing in the case would be held.

    Hours after the court ruled, a person purporting to be a Naussany Investments representative submitted a statement that said the company intended to drop its claims on Graceland, according to the Associated Press, which was not able to immediately find new legal filings in online records.

    Naussany Investments couldn’t be verified as a Missouri-based business by CNN, despite the outlet having court documents that gave the firm’s location as being in Kimberling City.

    Elvis Presley Enterprises, which manages the Presley estate, told The Times in a statement Wednesday that it is conducting business as normal.

    “As the court has now made clear, there was no validity to the claims,” the statement read. “There will be no foreclosure. Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home.”

    Keough was formally named the sole trustee of her mother’s estate — and, by extension, Elvis’ estate — in November after settling a legal dispute with her grandmother Priscilla Presley, Elvis’ widow.

    Presley had challenged her daughter’s will after the singer-songwriter’s death last January at age 54, questioning the “the authenticity and validity” of a 2016 amendment that named Keough and her brother, Benjamin Keough, as heirs to her estate. Benjamin Keough died in 2020 at age 27.

    The family came to an agreement last May that gave Priscilla Presley burial rights at Graceland, a $1-million lump-sum payment and an advisory role relating to Elvis Presley Enterprises.

    Angie Orellana Hernandez

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  • Riley Keough fights off foreclosure and auction of her grandfather Elvis’ Graceland

    Riley Keough fights off foreclosure and auction of her grandfather Elvis’ Graceland

    Elvis Presley’s granddaughter is suing an investment and lending company to halt a foreclosure sale of the late singer’s famed Graceland mansion.

    Actress Riley Keough, who inherited the Memphis property after the death last year of her mother, Lisa Marie Presley, and a settlement with grandmother Priscilla Presley, obtained a temporary restraining order against a sale of Graceland by Naussany Investments & Private Lending LLC. The sale was initially scheduled for May 23, according to CNN.

    Keough’s lawsuit, which was reviewed by The Times, claims that the company presented documents “purporting to show that Lisa Marie Presley had borrowed $3.8 million from Naussany Investments and gave a deed of trust encumbering Graceland as security.”

    Keough denied that her mother had any involvement with Naussany Investments, claiming that the documents were “fraudulent” and possibly forged.

    Florida notary Kimberly L. Philbrick, whose signature appears on the alleged agreement between Lisa Marie Presley and Naussany Investments, claimed in an affidavit that she did not notarize the documents.

    “I have never met Lisa Marie Presley, nor have I ever notarized a document signed by Lisa Marie Presley,” Philbrick’s affidavit read. “I do not know why my signature appears on this document.”

    “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” the lawsuit read.

    Moreover, the lawsuit alleged that Naussany Investments was seemingly created “for the purpose of defrauding” and could be a “false entity.”

    Naussany Investments did not immediately respond to The Times’ request for comment.

    Elvis Presley Enterprises, which manages the Presley estate, also called the claims fraudulent and told The Times in a statement that there is no foreclosure sale.

    “Simply put, the counter lawsuit [that] has been filed is to stop the fraud,” the statement read.

    Priscilla Presley, Elvis’ widow, also weighed in with an Instagram post on Sunday.

    “It’s a scam!” read bright red letters over a photo of the Graceland mansion.

    Keough was officially named the sole trustee of Lisa Marie’s estate and, by extension, Elvis’ estate in November after a judge approved a settlement between her and Priscilla, 78.

    As part of the settlement, Keough agreed to make a $1-million lump-sum payment to Priscilla that will be funded by Lisa Marie’s $25-million life insurance policy.

    The settlement also provides that Priscilla will be buried at Graceland in the closest gravesite to the King of Rock ’n’ Roll and will maintain a role as special advisor in dealing with Elvis’ estate, for which she will be paid $100,000 a year.

    The legal tensions arose after Priscilla contested Lisa Marie’s will following her death last January at age 54. Specifically, Priscilla questioned “the authenticity and validity” of a 2016 amendment that removed her and former business manager Barry Siegel as trustees in place of Lisa Marie’s eldest children, Keough and her brother, Benjamin Keough, who died in 2020 at 27.

    The family reached a settlement last May, which was later approved by L.A. Superior Court Judge Lynn H. Scaduto.

    Angie Orellana Hernandez

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  • You have to sell a cemetery plot—will you owe capital gains tax? – MoneySense

    You have to sell a cemetery plot—will you owe capital gains tax? – MoneySense

    Many non-financial assets depreciate in value. Cars, furniture and other such assets tend to be worth less over time, and they are generally not subject to capital gains tax. However, there may be exceptions, such as collector cars, jewellery, artwork or antiques. You may have to report a capital gain on the sale of personal-use property that has increased in value.

    To calculate the capital gain—or loss, as the case may be—there are three rules:

    1. If the adjusted cost base (ACB) is less than $1,000, the ACB is considered to be $1,000.
    2. If the sale proceeds are less than $1,000, the proceeds are considered to be $1,000.
    3. If both are less than $1,000, there is nothing to report.

    Capital gains on personal-use property

    As a result of these three rules, personal-use assets are usually a non-issue for taxes. In rare instances where a taxpayer profits, the numbers need to be into the thousands to matter.

    Interestingly, when someone buys a burial plot, they actually buy the right to bury, or inter, someone in the plot. That is, the buyer becomes an “interment rights holder,” but they do not own the land itself. Despite this, the empty cemetery plot has value for someone else who will inherit it or buy it.

    When the deceased passed away, they were deemed to sell all of their assets, Brian. This includes the cemetery plot. So, capital gains tax would be payable on their death for any appreciation in value.

    If you, as executor, sell the plot shortly thereafter, the value will likely be similar. If there’s a profit between the time of their death and the sale of the plot, this could give rise to a capital gain for the estate.

    Selling a cemetery plot as part of an estate

    It bears mentioning, Brian, the cemetery plot may have some restrictions related to its sale. Keep in mind the land is not owned. The owner holds the right to be buried there. And the cemetery may or may not permit the private sale of interment rights.

    Since the plot has a value, it may also be subject to probate or estate administration tax, just like any other asset passing through the estate of the deceased. You should speak to the cemetery, Brian, about the rules around selling the rights to the plot. And consider the tax and probate implications of the individual’s death and the subsequent sale of their vacant cemetery plot.

    Jason Heath, CFP

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  • How executors get paid in Canada – MoneySense

    How executors get paid in Canada – MoneySense

    What is an executor?

    An executor is a person named in your will who will be responsible, after you die, for making sure that your assets are distributed according to your wishes and that your estate is settled properly. This includes a wide range of activities, from filing a final tax return and cancelling your credit cards to giving away your jewellery or collectibles, and selling your home and investments.

    Read the full definition of executor in the MoneySense Glossary.

    How much are executors paid?

    Executor compensation in Canada is not standardized, and the regulations governing it are determined by each province. As a result, there can be considerable differences in the amount and rules for compensation from one province to another. Here is an overview of some key variations: 

    • Ontario employs a system where the executor’s compensation is determined as a percentage of the estate’s total value. The percentage is outlined as 2.5% on capital receipts, 2.5% on capital disbursements, 2.5% on revenue receipts and 2.5% on revenue disbursements. In the end, it works out to be essentially 5% of the estate’s total value.
    • Alberta follows a tiered percentage structure. Executors are entitled to between 3% and 5% on the first $250,000 of the estate’s value; and 2% to 4% on the next $250,000; and then between 0.5% and 3% on the balance.
    • In contrast, Quebec has executor compensation billed by the hour which is typically set at $45 to $65 per hour of work completed during the estate’s administration process.

    The pros and cons of allowing for executor compensation

    As with everything in life, there are good and bad to certain decisions. When contemplating whether or not to take executor compensation, consider the following benefits and pitfalls:

    Pros

    • Incentive to Act: Executor compensation can serve as an incentive for individuals to take on the role of an executor. Settling an estate is a time-consuming and often emotionally challenging task, and compensation can make it more attractive.
    • Financial Recognition: Serving as an executor often entails expenses and a time commitment. Compensation helps recognize and alleviate some of the financial burdens involved, especially if time off work is required of the individual.
    • Fairness: Compensation ensures that executors are fairly rewarded for their efforts, irrespective of the estate’s value. This encourages people to take on the role, regardless of the estate’s size.

    Cons

    • Conflict of interest: Executor compensation can create conflicts of interest. The executor may be motivated to prioritize their own financial gain over the beneficiaries’ interests. This can lead to disputes and litigation.
    • Complexity: The varying rules and regulations across provinces can make executor compensation complex to navigate. Executors may require legal or financial advice to ensure they are adhering to the correct guidelines and calculations.
    • Emotional toll: The focus on compensation may overshadow the emotional toll and responsibilities that come with the role of an executor. It may lead individuals to take on the role primarily for financial gain, rather than out of a sense of duty.

    Does an executor pay tax on the income they earn?

    In Canada, executor’s compensation is generally considered taxable income. This means that the amount received as compensation is subject to income tax. Executors are required to report this income on their personal tax return for the year in which they receive the compensation.

    The income tax rate applied to executor compensation depends on the province or territory in which the executor resides. Different provinces have different tax rates, which can significantly impact the final amount an executor retains after taxes. Additionally, executors who receive compensation must ensure they receive a T4A slip from the estate, indicating the total compensation they’ve received. Think of the estate becoming the employer of the executor, and the payment made to the executor is like a salary for the work they have done.

    Requirements and compliance for executors

    Executors must maintain accurate records of all financial transactions related to the estate, including the compensation they receive. These records should be kept for a specific period, as beneficiaries and even tax authorities may request them for verification. Estate accounting statements are the financial story of the estate’s administration and the most powerful tool in the executor’s arsenal when making a claim for compensation. While there’s not a mandatory requirement to formally pass accounts through the court, it is still a legal duty of the executor to maintain and record the financial transactions of the estate and provide them to the beneficiaries of the estate.

    What do professional executors do?

    When we consider that most executors do not have previous experience in administering an estate, the pains and troubles could be quite severe for someone in the role for the first time. In a poll conducted by Bank of Montreal in 2011, executors reported difficulties with the following categories:

    1. Administrative issues/complications (47%)
    2. Emotional issues/complications (31%)
    3. Legal issues/complications (26%)

    It’s reasonable to think that these categories and issues have not changed much over the course of the last 13 years, bringing the importance of working with professionals even more to the forefront. Whether it’s deciphering the varying provincial rules, navigating the complexities of taxation or ensuring compliance with legal requirements, professional guidance can provide clarity and peace of mind.

    Executors who seek the assistance of legal, financial or tax professionals can make informed decisions, reduce the risk of errors and ensure that they fulfill their duties with precision and integrity. By doing so, they not only protect their interests but also safeguard the interests of the estate beneficiaries, ultimately upholding the deceased’s wishes with diligence and transparency.

    Debbie Stanley, TEP, MTI

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  • Should you buy life insurance to pay for tax owed upon death? – MoneySense

    Should you buy life insurance to pay for tax owed upon death? – MoneySense

    Capital gains tax, Nazim, might apply to some of your assets. If you own non-registered stocks or a rental property, for example, they might be subject to a capital gain on your death. Your home would likely be sheltered by the principal residence exemption. A tax-free savings account (TFSA) is tax free, whereas a registered retirement savings plan (RRSP) is not subject to capital gains tax, but is subject to regular income tax. Your RRSP, unless left to a spouse, is generally fully taxable on top of your other income in the year of your death.

    The tax is payable by your estate, so although it reduces the inheritance left to your beneficiaries, it’s not payable directly by them. It can be paid with the assets that make up your estate.

    Hard versus soft assets

    You mention that your estate is made up of hard and soft assets, Nazim. I assume by hard assets you mean real estate. And by soft assets you mean cash, stocks, bonds, mutual funds and/or exchange-traded funds (ETFs).

    Your soft assets can be very liquid and used to pay the tax that your estate owes. That tax is not due until April 30 of the year following when your executor files your final tax return. If you die between November 1 and December 31, there is an extension to six months after your death for your executor to file your tax return and pay the tax owing. So, there’s always at least six months to come up with the funds required to pay income tax on death, and there’s more than six months when a death occurs between January 1 and October 31.

    Since soft assets are considered sold upon death, there is generally no advantage for your beneficiaries to keep those assets rather than turn them into cash or into other investments of their choosing.

    Your hard assets, Nazim, are obviously less liquid. If there is a special property, like a family cottage or a rental property, they choose to keep, I can appreciate how you might want to make sure they can do that without being forced to sell.

    Should you buy insurance to cover tax owed upon death?

    Your cash and investments may provide sufficient funds to pay taxes owed upon death. Or your beneficiaries may choose to sell one or more of your real estate properties. You could buy life insurance to pay the tax, but I find this strategy is oversold or misunderstood. I will explain with an example.

    Let’s say you are 62 years old, and your life expectancy is another 25 years, based on your current health. If you buy a life insurance policy that requires a level premium of $5,000 per year for life, and you pay that premium for 25 years, you will have paid $125,000 to the insurance company. If you instead invested the same amount each year at a 4% after-tax rate of return, you would have accumulated $216,559 after 25 years.

    Jason Heath, CFP

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  • Kate Middleton’s Return, Meghan and Flamingo Estate, Personal Anecdotes, and More

    Kate Middleton’s Return, Meghan and Flamingo Estate, Personal Anecdotes, and More

    The ladies are back this week with reactions to Kate Middleton’s return to the public eye with the statement about her health (0:00). Plus, Meghan Markle’s failed investment attempt with Flamingo Estate (12:21), Travis and Taylor’s vacation moments, and a few personal anecdotes the ladies have to share.

    Hosts: Juliet Litman and Amanda Dobbins
    Producer: Jade Whaley

    Subscribe: Spotify / Apple Podcasts / Stitcher

    Juliet Litman

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  • Video of the Week: A Spectacular Coastal Home in Rolling Hills, California – Sotheby´s International Realty | Blog

    Video of the Week: A Spectacular Coastal Home in Rolling Hills, California – Sotheby´s International Realty | Blog

    Featuring curated videos from the most sought-after destinations the world over, discover this  week’s Video of the Week


    Rolling Hills, California | Vista Sotheby’s International Realty

    Situated in a coveted Southern California enclave, this stylish and sophisticated property seamlessly blends luxury with nature.

    The interior boasts a harmonious connection between indoor and outdoor spaces, enhanced by a breathtaking backdrop of the shimmering ocean.

    Outdoors, a refreshing infinity-edge pool and a welcoming fire pit invite relaxed gatherings.

    Immerse yourself in virtual tours of luxury homes for sale around the world on sothebysrealty.com

    Melissa Couch

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  • 4 Homes with Incredible Maximalist Decor – Sotheby´s International Realty | Blog

    4 Homes with Incredible Maximalist Decor – Sotheby´s International Realty | Blog

    Ludwig Mies van der Rohe is said to have popularized the famous phrase, “Less is more”—and in doing so, he set a standard for many of his successors in the fields of architecture and design. But standards, by their very nature, are confining, and an increasing number of decorators are liberating themselves from the harsh limits imposed by stripped-down, pared-back aesthetics. Indeed, maximalism is making a meteoric ascent in popularity, and these four residences prove why.

    It’s About Questioning the Rules

    Margot Royer-Boquillon – Paris Marais Sotheby’s International Realty 

    As a term, “maximalism” only originated recently as a counterpoint to minimalism. In many ways, minimalism is a discipline more than a style; it demands a rigid adherence to specific principles of austerity and restraint. You can immediately identify a minimalist space because it follows certain conventions. Therefore, it’s fair to say that maximalism is based on the opposite—on defying convention and flouting norms—much like this whimsical mansion.

    From mosaicked floors that look like a collaboration between Kandinsky and Hundertwasser, to staircases that seem to float, to bold blocks of color that serve as shelving and storage, this home demonstrates how unique and unfettered maximalism can be. There’s no “right” way to do it; rather, it allows spaces to speak for themselves—and their owners—and cultivate the curiosity of their inhabitants.

    It’s About Linking Past to Present

    Sophie Tripier – Paris Marais Sotheby’s International Realty 

    Today, the word “baroque” is shorthand for lavish and often synonymous with maximalism, though it hearkens back to a distinct movement in the 18th century when opulent adornment was highly sought-after. Since then, these baroque sensibilities have remained firmly in place—from the excess of Victorian design to the extravagance of Art Nouveau and Art Deco. Such is the timeless appeal of maximalism. By being free rather than fixed, and dynamic rather than static, it celebrates anachronisms, as seen in this opulent triplex.

    Built in 1830, the home stands as a tribute to maximalism across the ages. The meticulous detail in the architecture is unparalleled, with finely crafted pilasters and cornices, along with a mirrored ceiling and striking skylight. And the materials, such as the brocade upholstery, gilded accents, and crystal chandelier, are almost deliriously luxurious.

    It’s About Inspiring Joy, not Envy

    Stacy Sims and Will Pitt – United Kingdom’s Sotheby’s International Realty

    A “more is more” mentality may be conducive to conspicuous displays of wealth, but that’s not the purpose of maximalism. While an intricately furnished interior might be impressive, it’s far more important that it’s invigorating. Maximalism is fundamentally focused on jubilance. The point is to decorate with what feels right to you, and not what has been deemed “right” by trendsetters and tastemakers—an ethos that’s alive and well in this stately townhouse.

    With statement prints juxtaposed alongside sleek neutrals, and ornately papered cabinetry set next to simple yet eclectic ceramics, this residence showcases the ease with which maximalism transcends time and trends. Rooms are relaxing but also exciting, personal while also universal; there may be references from many periods and places contained within four walls, but the result is a space unlike anywhere else in the world.

    It’s About Expressing Individuality

    Alberta Magni – Italy Sotheby’s International Realty 

    It’s no surprise that maximalism is a powerful means of self-expression, and is meant to be subjective. If an artwork or keepsake conjures a fantastic feeling or a beautiful memory, then it belongs—and this enables maximalist spaces to mix colors and textures even if they contrast, and blend design and decor even if they’re from different decades or centuries. The only criterion that matters is that it makes you happy, and who couldn’t be constantly delighted in an apartment like this wild wonderland? 

    Created in the style of traditional Milanese workshops from the late 1800s/early 1900s, this surrealist loft designed in collaboration with Toiletpaper utilizes captivating visuals to emphasize and expand the scale of the space, ushering the eye upwards and outwards, vertically and horizontally, with statement art pieces and one-of-a-kind collectibles. There always seems to be something novel to discover, as no two vantage points provide the same view.

    Too often, trends are cyclical; as they recur, they return their followers to an earlier moment instead of fuelling forward momentum. But that’s not the case with maximalism. It remains relevant because even as it references its history, it endows every artist, architect, designer, and decorator with something fresh and new to work with that’s theirs—and theirs alone.

    Maximalism is inherently personal—discover how these four homes are similarly distinctive.

    Melissa Couch

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  • Inside an Enchanting Mediterranean-Style Enclave – Sotheby´s International Realty | Blog

    Inside an Enchanting Mediterranean-Style Enclave – Sotheby´s International Realty | Blog

    Santa Barbara’s exclusive community of Hope Ranch is no stranger to impressive estates with on peaceful tree-lined lanes with breathtaking vistas. This majestic Mediterranean-inspired compound ups the ante, providing what amounts to a personal private resort: a regal villa of some 8,100 square feet, a two-bedroom guesthouse, a pool accompanied by a pool house, and numerous other diversions. Enveloping it all is a veritable forest of flourishing flora—including a towering decades-old lilac that furthers the sense that, much like its Old World predecessors, this retreat has been in this place for generations.

    Santa Barbara, California | Dusty Baker, Caitlin Racich, Sotheby’s International Realty – Montecito – Coast Village Road Brokerage

    In fact, the residence dates to the early days of the 21st century and was painstakingly rejuvenated by a cadre of superior architects, builders, and designers in 2015. Historic European architectural influences are on bold display here, recalling getaways in  the Spanish countryside or other sun-soaked coastal locales abroad: earthy barrel roof tiles, stucco walls, graceful arches, iron-railed balconies, and colorful ceramic tile accents. The interiors have a palatial quality thanks to vaulted beamed ceilings, outsize stone fireplaces, towering windows, classical hardwood and terra-cotta-tile floors, and wrought-iron fixtures, railings, and fittings. Nevertheless, the spaces remain inviting and enjoyable, from the august ocean-view living room and a formal dining room served by two kitchens to the easygoing family room. Atop a supple spiral staircase, the owner’s oasis—a bedroom and a sitting room—gazes out over the pool, terra-cotta rooftops, and the leafy treeline toward islands and the ocean through two sets of sliding glass doors leading to a lengthy balcony. The indulgent owner’s bath includes a steamshower, a soaking tub, and two boutique-rivaling walk-in closets. Serenely secluded, the three-bedroom guest wing is accompanied by its own delightful living area.

    As a matter of course, Mediterranean-style retreats—regardless of which side of the ocean they’re planted on—assign a significant role to alfresco spaces. That custom certainly holds true here—in Southern California, outdoor living is a year-round pursuit—and on these lush acres, scores of vibrant plantings surround patios, a series of cascading terraces, an outdoor kitchen, a refreshing pool, and a secluded spa, greatly augmenting the square footage dedicated to open-air gathering and relaxing. The property, naturally, enjoys the peace of mind of gated security. And with its extensive collection of amusements and diversions—a well-equipped fitness center, a pool house ideal for hosting alfresco festivities, a tennis court, garden beds and a chicken coop to please the green thumbs and urban homesteaders, and a treehouse appealing to the young and young at heart—the estate feels utterly timeless and destined to be a private personal paradise for generations to come.

    Discover luxury homes for sale and rent around the world on sothebysrealty.com

     

     

     

     

    Melissa Couch

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  • RM Sotheby’s Presents ModaMiami – Sotheby´s International Realty | Blog

    RM Sotheby’s Presents ModaMiami – Sotheby´s International Realty | Blog

    Prestigious car events have long been synonymous with style and luxury. The recipe for success? Cars. Design. Style. Elegance. RM Sotheby’s has joined with Sotheby’s and Moda Events in building ModaMiami, a new destination for car enthusiasts encompassing the rare, prestigious, and eclectic, combined with other luxury entertainments.

    Over the multi-day affair, enthusiasts can enjoy what they love most: rare, unique, and awe-inspiring vehicles, from the auction preview on Thursday, February 29, to the final show day on Sunday, March 3. No two days will be alike as nearly 300 cars will grace the showfield throughout the weekend, including 150 hand-selected vehicles touting their rare histories and desirable attributes, 100 super-specced supercars and hypercars as part of our exclusive 100 Club, and a special “centenary plus one” celebration and showcase honoring the life, legacy, and work of legendary automaker Carroll Shelby.

    Other event features include a tour of Miami’s finest food offerings, refreshments and comforts provided by the Casa Tua Club Lounge, a retail space by Sotheby’s, and live entertainment.

    Purchase Tickets

    Melissa Couch

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  • Morning Glory: 4 Inviting Breakfast Areas – Sotheby´s International Realty | Blog

    Morning Glory: 4 Inviting Breakfast Areas – Sotheby´s International Realty | Blog


    Designed for daily dining and lounging, these delightful breakfast areas accompany well-outfitted kitchens and feature bright windows with enviable views and distinctive styles that make them appealing morning, noon, and night.

    Equestrian Oasis in Florida

    David Welles | Equestrian Sotheby’s International Realty

    This expansive Mediterranean-inspired estate in desirable Wellington occupies some six acres and includes a top-caliber equestrian center; a four-bedroom, 3,639-square-foot home; and a 1,368-square-foot guesthouse. The main residence offers a formal dining area; a chic living area; a family room; and a cook’s kitchen with streamlined cabinetry, Miele appliances, marble countertops, and a breakfast area opening through sliding glass doors to a breezy covered wraparound patio, an alfresco kitchen, and a heated pool and spa.

    Privacy and Luxury in Pacific Heights

    Mary Lou Castellanos | Sotheby’s International Realty – San Francisco Brokerage

    Designed by Frederick Herman Meyer, built in 1902, and recently remodeled, this classic San Francisco manor offers four levels of comfortable, luxurious living and entertaining spaces. Crowning it all is a roof deck with a fireplace and a panoramic vista. The thoughtful floor plan features a formal dining room, a theater, five bedrooms, a media room, an office, and a chef’s kitchen that opens to a casual living area and a cozy corner breakfast room giving way to a deck with stunning bay views.

    Brentwood Beauty

    Janelle Friedman | Sotheby’s International Realty – Pacific Palisades Brokerage

    This serene two-acre sanctuary in the heart of Brentwood boasts a pool and spa, a pool house with a bar and sauna, a sports court, a gazebo, green lawn, gardens, a pergola with a fire pit, winding paths, and a yoga and meditation platform. The centerpiece of the estate, a stylish modern residence, offers inviting living and entertaining spaces, including a window-wrapped solarium-inspired breakfast room that gazes out over the terrace toward the waterfall that cascades from the relaxing spa into the swimming pool.

    Southwestern Sophistication

    Tim Galvin | Sotheby’s International Realty – Santa Fe Brokerage 

    This incomparable single-level 4,069-square-foot three-bedroom residence impresses with its magnificent vistas, sophisticated modern Southwestern style, lovely light-filled spaces, and consummate privacy. Thanks to a prime perch on one acre in the exclusive Las Campanas community, nearly every room benefits from an expansive view of fairways, greens, a lake, and the Sangre de Cristo and Jemez Mountains—most notably the family room and the cook’s kitchen, which includes a spacious breakfast area set just beside a wide window and steps from the enviable portal.

    Discover luxury homes for sale and rent around the world on sothebysrealty.com

     

     

     

     

     

     

     

     

     

    Melissa Couch

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  • Luxury Real Estate Headlines: Third Week in February, 2024 – Sotheby´s International Realty | Blog

    Luxury Real Estate Headlines: Third Week in February, 2024 – Sotheby´s International Realty | Blog

    New York, New York | Sotheby’s International Realty – East Side Manhattan Brokerage

    The New School’s Greenwich Village townhouse, an elegant 19th-century brick building that has served as a residence for university presidents and a venue for school functions for the last four decades, is now on the market.

    The New School Lists Its Greenwich Village Townhouse for $20M – The New York Times

    Michael Dell Is Putting Boston Penthouse on the Market – The Wall Street Journal

    Glimpse Inside Jackie Kennedy’s Notable Estates, Cottages, and Penthouses – Architectural Digest

    Texas-Sized Spec Home Hits the Market in Houston for $8.995M – Mansion Global

    Why the Heck Is Everyone Moving to Beverlywood? – The Wall Street Journal

    You Can Live Out Your Rom-Com Dreams at This Upper West Side Brownstone Seeking $9M – Cottages & Gardens

    9 Best Places to Live in Canada, According to Local Real Estate Experts – Travel + Leisure

    ‘007 vibes’ flow from this alluring futuristic estate for sale in Vegas. Check it out – The Sacramento Bee

    Walls of Glass Connect This $3.1M Houston Home to its Natural Surroundings – Robb Report

    House on Stilts That Hosted John Lennon, Stevie Nicks and Other Star Lists in L.A. for $2M – Mansion Global

    If You Love Stargazing, This $10.8M Sonoma Home Has a Mini Observatory – Dwell

    Tour a Super Sleek Las Vegas Modern Asking $18.5M – Cottages & Gardens

    Inside Appleby Castle, a Centuries-Old 22-Bedroom Residence in England Listed for $9.5M – Cottages & Gardens

    Georgia Mansion with Old West Town Replica – Robb Report

    Vail, Colorado: Casteel Creek Auction – Robb Report

    Nine Square House in Copake, New York, Lists for $2.8M – Realtor.com

    The Washington D.C. Area Just Scored Its First Big Home Sale of 2024 – The Wall Street Journal

    $820,000 Dollar Homes in Utah, North Carolina, Connecticut – The New York Times

    Homes on Islands – The Week

    Historic 1847 Cape-Style Cottage on 4 Acres Asks $649K in Surry, Maine – Pricey Pads

    $35 Million Tuxedo Park Greek Revival by Harrison Design in Atlanta, Georgia – Pricey Pads

    The Joy of Painting Lives On in Former Bob Ross Artist Retreat – Inman

    Wellington Equestrian Paradise Hopes to Rein in $14.75M – Behind the Hedges

    $3.7M Homes in California – The New York Times

    Hot Property: East Sandwich Home Exudes Warmth – Boston Herald

    Doors of this mansion for sale in Georgia open to town from the Wild West. Take a look – The Sacramento Bee

    Historic 1875 Victorian Masterpiece Lists for $1.06 Million in Hudson, New York – Pricey Pads

    6 Stylish Homes in Manhattan – The Week

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Melissa Couch

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  • 5 Homes That Embody the Year of the Dragon – Sotheby´s International Realty | Blog

    5 Homes That Embody the Year of the Dragon – Sotheby´s International Realty | Blog

    Lynn Malone and Barbara Wolveridge – Queensland Sotheby’s International Realty 

    Of the 12 animals represented in the Chinese zodiac, only one is mythical—revered in history, customs, and culture for its might and munificence. So it’s an auspicious sign that the year 2024 is the Year of the Dragon.

    In Chinese astrology, each year is associated with one of the 12 animals. But each animal also cycles through the five traditional elements of fire, earth, metal, water, and wood. These elements have their own symbolic relevances—and since 2024 is the year of the wood dragon, the attributes of “wood” play a significant role in setting the stage for the year ahead.

    With the admirable attributes of dragons and the winning traits of wood, it seems there’s a lot to look forward to in the coming year. Here, these characteristics are expressed and explored further through five outstanding homes.

    Impressive Bordering on Imperial

    Barcelona & Costa Brava Sotheby’s International Realty 

    Dragons are so exalted in Chinese folklore that the emperors of yore claimed to be their direct descendants. Therefore, it’s no surprise that this sign of the zodiac is known for drive, determination, and self-assurance. For those born during a dragon year, lofty ambition is fuelled by the type of unwavering confidence befitting a sovereign.

    Barcelona & Costa Brava Sotheby’s International Realty 

    A residence like this neoclassical villa in Barcelona is a suitable complement to this most venerable animal of the zodiac. Not only does it boast 12 bedrooms as well as separate accommodations for four staff, but its spectacular living room has been aptly dubbed the “dragon room,” with bright accents of red and gold—the two luckiest colors of the Lunar New Year season—and a hearth bedecked in scale-like tiles.

    Pursuing Interests and Inspiration

    Catherine Casalicchio – Daniel Ravenel Sotheby’s International Realty 

    In Western culture, dragons are often depicted as malevolent monsters that spout flames. That’s not the case in Eastern cultures, where these creatures are benevolent divinities that restore life to the planet with life-nourishing rain.

    Catherine Casalicchio – Daniel Ravenel Sotheby’s International Realty 

    With a prominent position on a lush Hilton Head Island peninsula and a private deepwater dock, this elegant country estate shares the dragon’s energy, vitality, and ability to cultivate an engaging and enriching life. The kitchen demonstrates this perfectly, with a brass and enamel stove outfitted in those auspicious hues of gold and red, as well as luxury brand appliances and a central countertop of solid teak.

    Dragons are all about dynamism and passion, and the sense of boundlessness created by this home—and the way its location promotes activity, recreation, and health—makes this property a perfect match.

    A Luminary With Vigor and Vision

    List Sotheby’s International Realty, Thailand

    As 2024 is a wood dragon, what does the element bring to the equation? Wood is connected to growth, conveying themes of ongoing improvement and self-actualization—bold ideas, broad perspectives, and a big imagination.

    The main panoramic living area in this minimalistic architectural wonder feels like the physical analogue of these wood dragon aptitudes. Set on the beaches of Phuket’s gorgeous Patong Bay, the triangular geometry symbolically invokes stability and strength, while the timber floors and ceilings pay homage to this year’s element in the most literal way.

    Starting Dialogues, Sparking Joy

    Angeles Guerrero – Seville Sotheby’s International Realty 

    Those affiliated with the sign of the dragon are said to be exceptional entertainers. They seek company, and tend to be effervescent, enthusiastic, and charming—and this year, these qualities are further enhanced by the sense of positivity typified by the element of wood.

    Angeles Guerrero – Seville Sotheby’s International Realty 

    Such exuberance and ebullience come alive in the lush gardens and spacious halls of this beachfront mansion on Marbella’s Golden Mile. There’s no better place to host a lively salon than in its art-filled parlors—and with the acclaimed Marbella Club Hotel right next door, there will always be a lively gaggle of guests. In the year of the wood dragon, the tropical greenery that surrounds this property feels particularly on-theme.

    Always a Fierce Force of Nature

    Lynn Malone and Barbara Wolveridge – Queensland Sotheby’s International Realty 

    Finally, those born under the dragon’s influence are known for their unshakeable independence. Considering how powerful and capable dragons are, those who have the good fortune of being governed by this zodiac animal can place their faith in their own capabilities and become fully self-reliant.

    Lynn Malone and Barbara Wolveridge – Queensland Sotheby’s International Realty 

    Indeed, self-sufficiency is the defining feature of this paragon of sustainable design. Off-grid and carbon neutral, this residence takes renewable, restorative living to a whole new level with interconnected indoor-outdoor spaces that sit at the junction of two UNESCO World Heritage sites—the Great Barrier Reef before it, and the Daintree Rainforest behind it.

    These five properties reach across regions and cultures, just like the celebration of Lunar New Year and the iconic zodiac animals of the lunisolar calendar. But of course, none are as iconic as the dragon—and that’s why 2024 promises to be a year full of optimism and opportunity.

    Looking for an elegant, tangible connection to the past? Explore the timeless charm of these four historic homes.

    Melissa Couch

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