Does Heir Pay Lien On Inherited Property?
A son inherited property from his father who had a judgment against him. A judgment may mean there is a lien on the property that the estate must pay. Generally, a lien does not go away when a person dies.
Life Estate Deed Contradicts Will
A mother's will outlined that her personal property would be divided equally between her two sons. One son later says he has a life estate deed that says he is the sole heir to the property. Finding out if the life estate deed is valid will determine if it trumps what was outlined in the mother's will?
Estate Planning Helps Mitigate Inheritance Taxes
When you're doing estate planning you need to consider not only federal taxes but state taxes too. Some states tax estates at different levels from the federal tax rates and the states may not tie their estate taxes to the federal rate. It's important to consider estate tax rates to preserve an inheritance.
Estate Planning For Taxes Includes Property Inheritance
With estate planning you can either leave a property to heirs through a will thus creating an inheritance, or gradually give your family members shares of the property through gifts. From a tax perspective, giving property as an inheritance is better. Another factor to consider when bequesting property is how many and which family members may be interested in the property.
Estate Planning Includes Determining Trustees
When parents want to bequest real estate to their children they may want to use a quit claim deed when a trust is the better option. When you set up a trust you have to figure out who will be the executor and who will be the beneficiaries. Learn about the benefits of placing a property in trust versus using a quit claim deed. And discover what role the executor plays in the transaction.
Brother Dies Without Will (Intestate)
A woman owns a home that was financed by her brother, who died intestate (without a will) and now she is worried she will lose her home. It's important to hire a real estate lawyer who can help prove that she had a valid contract to purchase the property. Then she should be able to get the title transferred to her during probate.