Estate Planning
How to Protect Your Property From Lawsuit
When thinking about how to protect your property from a lawsuit, you might want to consider setting up a trust. Q: I bought my house 20 years ago and today it is worth $300,000. I owe about $150,000 and have …
Using a Quitclaim Deed to Avoid Taxes
A quitclaim deed conveying the titleTitle refers to the ownershipOwnership is the absolute right to use, enjoy, and dispose of property. You own it! of a particular piece of property. of a home to a living trust can result in …
Lowering Your Capital Gains Tax: Home Improvements
Making home improvements can lower your capital gains tax, but that may change in 2013. Q: In 1975, my parents built a four bedroom house on Cape Cod and they put my name on the deed with theirs. My parents …
Removing Someone From Home Deed
Removing someone from a home deed can be tricky and expensive. Find a real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. attorneyA Real Estate Attorney is an attorney who specializes in the …
Problems with Transferring Trust Property
Transferring trust property with a 1031 tax exchange must be done carefully, or the beneficiaries could lose their inheritance. Q: My father recently passed away. He had a trust and in that trust he listed a property for me and my brothers …
Changing Revocable Trust Not an Option After Death
Changing revocable trust isn’t an option after death, but trust beneficiaries should look into their rights and compromise on disagreements. Q: I read a few articles on your website regarding living trusts and life estates, but my issue has an …
How to Divide Inherited Property
If you inherit property with siblings or other family members, there are ways to divide the real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. inheritance without resorting to a lawsuit. Q: I …
Tax Implications of Inheriting a House
Q: My husband is 85. He is on 100 percent VA disability, plus homestead exemptions. Our home is paid for, and due to the exemptions we pay no taxes on it. If we deed our home to our children, but …
Update Your Will For Proper Estate Planning
Good estate planning requires you to update your will to make sure your wishes are met and your heirs aren’t left wondering whether your wishes were satisfied. Q: Our mother passed away quite suddenly. She had her old will out …
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 …
