For many homeowners in Tampa’s 33606 ZIP code, a home is more than an investment—it is a family asset that may eventually be passed to children, grandchildren, or other loved ones. In neighborhoods such as Hyde Park, Davis Islands, Bayshore, and surrounding South Tampa communities, where properties can represent a significant portion of a family’s wealth, planning ahead can make a major difference.
With more than 40 years of combined real estate experience, Emeri and Joe Lewkowicz of The Lewkowicz Group have seen firsthand how important it is for homeowners to think beyond today’s market value and consider what happens to the property in the future.
“One of the biggest mistakes we see is waiting until a property needs to be transferred before thinking about how that transfer should happen,” says Emeri. “A little preparation today can give your family considerably more flexibility tomorrow.”
Start With the Way the Property Is Titled
The first question homeowners should ask is simple: Who legally owns the property, and how is ownership structured?
A property might be owned individually, jointly with a spouse, through a trust, or through another legal entity. The answer can have significant implications when ownership eventually changes.
Joe recommends homeowners review their current deed and make sure it still reflects their intentions.
“Life changes,” Joe explains. “People get married, divorced, children become adults, trusts are created, and family circumstances evolve. Your deed should be reviewed periodically to make sure it works with your overall estate plan.”
Understand Florida Homestead Considerations
For homeowners who use their 33606 property as their primary residence, Florida homestead rules are another important consideration. Hillsborough County notes that homestead status provides valuable property-tax benefits and that ownership and residency requirements apply.
That means homeowners should not make changes to title simply because someone suggests a particular deed or ownership arrangement. A change could have tax, homestead, or estate-planning consequences.
Know What Happens If the Owner Dies
A crucial part of estate-transfer planning is understanding what happens to the property when the current owner passes away.
Depending on the homeowner’s circumstances and estate plan, a property may be transferred through a trust, beneficiary arrangement, deed, or probate process. Florida also recognizes enhanced life-estate deeds, commonly called “Lady Bird” deeds, although whether one is appropriate depends entirely on the individual situation.
This is where Emeri and Joe emphasize the importance of bringing the right professionals together. Your real estate agent can help you understand the property, market value, ownership history, and eventual sale or transition strategy, while an estate-planning attorney should advise on wills, trusts, deeds, and legal consequences.
Think About the Property’s Future Value
Estate planning is not only about who receives the property. Homeowners should also consider what the next generation might actually do with it.
Will the property remain in the family? Could one heir buy out another? Would selling the home make more sense? Could the property require renovations before it is market-ready?
“Especially in 33606, we’re dealing with properties where location, land value, architecture, condition, and neighborhood demand can all have a major impact on future value,” says Emeri. “Knowing what you own—and what the market may look like when the property eventually transfers—is incredibly important.”
Create a Plan Before You Need It
The best time to review an estate-transfer strategy is before a major life event forces the issue.
Emeri and Joe recommend homeowners start by reviewing their deed, confirming how the property is titled, understanding their homestead status, and discussing their goals with an estate-planning professional. From there, the Lewkowicz Group can provide insight into the property itself, including its current market position and potential future sale considerations.
For homeowners in ZIP Code 33606, estate planning and real estate planning should ultimately work together.
Your home may be one of the most valuable assets you ever own. With more than four decades of combined experience helping Tampa homeowners navigate changing markets, Emeri and Joe Lewkowicz understand that protecting that asset means thinking not only about where the property is today, but where it is going next.
