Estate Planning
How to Divide Inherited Property
If you inherit property with siblings or other family members, there are ways to divide the real estate inheritance without resorting to a lawsuit. Q: I have an interesting situation. My aunt recently died and left behind an estate which …
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 …
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 …
