LISC Jacksonville Receives $500,000 Commitment for Heirs’ Property Program During Estate Planning Forum

During an Estate Planning Forum held on October 18 at the Jessie Ball duPont Center, JPMorgan Chase announced a $500,000 grant awarded to LISC Jacksonville to support its Heirs’ Property and Family Wealth Creation programs. The Forum, hosted in partnership with Family Foundations of Northeast Florida and LISC Jacksonville, provided free estate planning assistance to local families during National Estate Planning Awareness Week.

Heirs’ property is property that is inherited by an owner’s descendants without a will, estate plan, or court document from the owner who has passed away, causing unclear or disputed legal title ownership for the descendants. Without a clear legal title, a property’s condition and value are much harder to maintain, and it excludes the household from the ability to obtain home equity loans, tax rebates, and homestead exemptions, and receive disaster recovery assistance.

“Families who lack clear titles to their homes face greater challenges to creating generational wealth through homeownership, which compounds the effects of other financial and economic challenges already experienced by BIPOC individuals and families,” said LISC Jacksonville Executive Director Dr. Irvin “PeDro” Cohen. “We are grateful for the support from partners like JPMorgan Chase which is essential to helping more people navigate and address the expensive and time-consuming issue of heirs’ property.”

Duval County has the densest concentration of heirs’ property parcels in the southeast region, meaning a significant number of local families do not have clear titles to the homes they rightfully inherited. Due to this issue, which disproportionately impacts BIPOC (Black, Indigenous, People of Color) families and urban neighborhoods, these families experience a very vulnerable housing and ownership status, where they risk losing their homes.

Members of the LISC Jacksonville and JPMorgan Chase teams during the Estate Planning Forum.

Duval County has the densest concentration of heirs’ property parcels in the southeast region, meaning a significant number of local families do not have clear titles to the homes they rightfully inherited. Due to this issue, which disproportionately impacts BIPOC (Black, Indigenous, People of Color) families and urban neighborhoods, these families experience a very vulnerable housing and ownership status, where they risk losing their homes.

“In Jacksonville and in every other community we serve around the country, economic opportunity and wealth creation is deeply rooted in home ownership,” said Maria Escorcia, Program Officer for Florida for the JPMorgan Chase Foundation. The JPMorgan Chase PolicyCenter recently released policy recommendations to address heirs’ property issues, including cross sector strategies to tackle estate planning challenges. “Through our support of LISC Jacksonville’s Heirs’ property program, we hope to help more families establish clear foundations for wealth building for generations to come. This is one of many ways we are advancing racial equity and economic inclusion for households of color.”

During the Estate Planning Forum, LISC Jacksonville and Family Foundations of Northeast Florida, alongside other partners including Three Rivers Legal Services, delivered a presentation about the importance of estate planning and the potential negative impacts of having no estate plan on individuals, families, and communities as a whole. Legal professionals also provided free estate counseling to attendees, helping individuals understand their current homeownership structure and steps they need to take to develop an estate plan and preserve their assets for future generations.

Three Rivers Legal Services attorney Rachel Rall meets with an attendee during the Forum to answer questions and provide guidance.

Additionally, LISC Jacksonville conducted a “signing ceremony” with three individuals who officially signed – in front of Three Rivers Legal Services, a notary, and public witnesses – their last will & testaments and other estate documents.

Individuals conducted a "signing ceremony" during the Forum.

“Our ultimate goal with our Heirs’ Property work is to turn this vicious cycle into a virtuous one where homeownership is preserved, homes are safe and resilient, and BIPOC homes and communities are appropriately valued,” said Kristopher Smith, community development program officer for LISC Jacksonville. “As a result, families can leverage home market value and equity to pursue educational, entrepreneurial, or other opportunities that ultimately improve their lives and the lives of their loved ones.”

Read more about LISC Jacksonville’s Heirs’ Property program here.