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 [...]
If you inherit property with siblings or other family members, there are ways to divide the real estate inheritance without resorting to a lawsuit. 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 [...]
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.