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inherited property

  • Permalink

    How to Avoid Paying Capital Gains Tax on Inherited Property

How to Avoid Paying Capital Gains Tax on Inherited Property

By Ilyce Glink| 2020-01-27T10:49:53-06:00 January 27th, 2020|

How to avoid paying capital gains tax on inherited property. Minimize the potential tax consequences of transferring property from parent to child. Q: I have a question about a recent answer you gave to a reader. The question relates to a daughter that acquired her share of the home from her mom while her mom [...]

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    Do You Need to Renovate an Old Inherited Home Before Selling?

Do You Need to Renovate an Old Inherited Home Before Selling?

By Ilyce Glink| 2019-02-11T14:48:45-06:00 January 4th, 2019|

Do you need to renovate an old inherited home before selling? The first step to deciding involves speaking with a local real estate broker to lay down the numbers. Q: Our sister recently passed away leaving the family home that mom left her six years ago. She had no will and left outstanding debts as [...]

  • divide inherited property
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    How to Divide Inherited Property

How to Divide Inherited Property

By Ilyce Glink| 2019-11-26T10:11:58-06:00 May 25th, 2012|

How to divide inherited property. There are several ways to divide real estate inheritances without resorting to lawsuits between heirs. Q: I have an interesting situation. My aunt recently died and left behind an estate which includes a luxury condo in Illinois. My aunt had no family of her own, and left 40 percent of [...]

  • tax implications quit claim deed vs inherited property
    Permalink

    Tax Implications of Quit Claim Deed: Better to Inherit Property

Tax Implications of Quit Claim Deed: Better to Inherit Property

By Ilyce Glink| 2017-05-10T15:42:51-05:00 April 22nd, 2011|

It's better to inherit property from your parents or family members rather than receiving it through a quit claim deed. The tax implications of receiving a property through a quit claim deed are much greater than inheriting a property. When estate planning, it's better to put the property in a will or trust, rather than transfer the property through a quit claim deed.

  • does heir pay lien inherited property
    Permalink

    Does Heir Pay Lien On Inherited Property?

Does Heir Pay Lien On Inherited Property?

By GlinkAndTamkin| 2019-11-26T15:41:47-06:00 November 15th, 2007|

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.

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