inheritance
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 …
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 …
Inheriting Home With a Mortgage: What to Do?
If you have inherited a home with a mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and …
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 …
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 mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by …
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 …
