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 [...]
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? 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 [...]
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 [...]
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 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 [...]
What are the options for parents lending money to kids? How can you safely lend money to your kids and not run afoul of the law? Q: I read with interest one of your older articles online about the Dodd Frank Act and whether personal loans are subject to it. I want to lend money [...]
Settling an estate, condo sale and debts. These are the issues this family is facing two years after their son's death. What would you do? Q: My single son died two years ago. He had no children. His only assets were his condominium and the money he had in his 401(k) plan. His condo is [...]
"Who can help me plan for my financial future?" is the question of the week. Building a home-buying team will help you buy the right house, whether you're a first-time buyer or trading up into a larger home. Building your financial future requires more. Q: Who can help me plan for my financial future, including [...]
How much does it cost to own a house? Inheriting a house that you haven't lived in may mean you'll face unknown expenses. What else can you do? Q: My widowed sister owns a modest home in DuPage County, Illinois. It’s entirely paid off. Her intent is to leave her house to me–she has no [...]
