Estate Planning
Roth 401k vs 401k Contributions
Should you make your contributions into a Roth 401k (post tax money) or make contributions to a non-Roth 401k (pre tax money). Q: My husband and I are trying to determine whether he should continue to make retirement contributions into …
Inheritance Rights Of Spouses
Q: Our dad quit claimed a family cottage to his three kids in 1994. He died in 2000. Two of the kids are married, one is not. Are the spouses in any way entitled to a share of the cottage …
How Does Probate Work Without A Will?
Q: What happens, if a person passes away and no one files probate because the estate has no assets? Do any of the deceased relatives become liable for taxes owed by the person that died? Would the relatives have to …
Who Is Responsible For Mortgage On Inherited Condo?
Q: I inherited a condominium in Naples, Florida from my parents. The property has a mortgage of $200,000 and is worth about half that much. My parents owned it with my uncle and his wife, who are still alive, so …
Estate Planning: Dividing Assets Between Adult Siblings
Q: My parents died and had a will in place. I would like to know what option we have to sell the assets of my parents’ estate and dividing the money among the siblings. They died over two years ago, …
When Is Probate Not Necessary
Q: My father passed away a year and a half ago with few assets other than his home. I am executor of his will. He left me his house and all his personal effects but the will stipulated that his …
Pay Off Lien On Inherited Property
Q: I am co-trustee of my mother’s estate. I was informed by my mom’s mortgage company of the debt, $4,000.00 and that there is a lien on the condominium. I would like to settle the debt but the lender has …
Should You Transfer Title To LLC or Corporation?
When selling your home, should you transfer title to LLC or corporation? There are many details to consider when deciding whether you should transfer title to LLC or corporation, like tax benefits that you can take advantage of as a personal owner. It can be a valid transaction but the IRS could view the sale as a sham if a proper justification does not exist, so consider this when deciding should you transfer title to LLC or corporation.
Joint Tenancy With Right of Survivorship Can Simplify Estate Planning
When drafting your will, bear in mind that joint tenancy with right of survivorship can simply estate planning. You could have a deed executed by your spouse or partner’s estate after death, however joint tenancy with right of survivorship can simply estate planning. If you and your mate took title to the home as joint tenants with rights of survivorship, it can greatly simplify estate planning.
Inheriting Timeshares: How to Avoid an Inherited Timeshare
Inheriting timeshares and how to avoid an inherited timeshare. As part of estate planning, inheriting timeshares should be considered in order to avoid undue hardship. There are many benefits and obligations associated with timeshare ownership and inheriting timeshares. Fees and maintenance can make executors want to learn how to avoid an inherited timeshare. Passing property ownership through estate planning can make inheriting timeshares a burden depending upon the executor’s wish to avoid an inherited timeshare.
