Will my son inherit the house?
Will my son inherit the house? Q: I purchased a house with my married son several years ago for him to live in. My husband and I gave him the money for the down payment. Only my credit was checked when we purchased it. Both my son's name and my name are on the deed [...]
Execute a Living Trust After Death
How do you execute a living trust after the death of the trustee? What is the trustee's job with the living trust? How do you manage expenses with a living trust? Q: Before my father died, he and his second wife established a living trust for their house. In the trust document, my stepbrother and [...]
Can We Switch Inheritances?
Can we switch inheritances? Two brothers don't want to share the two properties they inherited. They'd rather switch inheritances, so that each brother inherits a separate property. Can the estate handle this? Inheritances Can Be Complicated Q: My brother and I inherited two houses upon my father's death. We each share half interest in each [...]
Inheriting a Home: Options to Consider
Are you inheriting a home? There are several options to consider if you'll be the beneficiary of this sort of bequest and don't want to keep it. Inheriting a Home: To Keep or Sell Q: I read your column regularly and always find it very interesting and informative. I have a rather complicated question: My [...]
Personal Finance Resolutions for 2023
Every year, Ilyce and Sam offer their readers New Year’s resolutions for home buyers, sellers and their personal finances. These are their personal finance resolutions for 2023. As we finish the third year of the pandemic, money and credit issues continue to weigh heavily on the minds of most Americans. Let’s take a moment and [...]
Inheriting Property in a Trust
Inheriting property in a trust is far easier than going through probate. Q: My dad owns a duplex. He lives upstairs and rents the downstairs unit. He wants me to inherit the property after he dies. Should we transfer ownership of the property by will or by adding me to the deed? I understand all [...]