Parents, Children, Estates and House Titles produce a mess if not done properly. When your parents add you to their house title for estate planning purposes, you may not necessarily be granted full ownership of the home after death. Q: My dad died quite some time ago and I have three siblings. We all get [...]
What happens when property is promised to you but not written in the will? Depending on how the will is written, you may be out of luck. Here’s what you should know. Q: My father told my dying sister her husband would receive her portion of his estate, including his house, in the presence of [...]
Here's what you need to know before selling a home that was willed to you. There are a few steps you have to take before you can sell the home that was left to you in a will, even if you were the sole heir of the home and other assets. Q: A friend [...]
This reader needs to determine who in their family will receive a property tax deduction, since the ownership of the home is unclear. Q: My grandma's house is in probate as she passed last year. Her grandchildren have been living there and paying the property taxes. Who gets the tax deduction for those tax payments? [...]
When someone passes away without a will, it’s difficult to determine who the deed will be transferred to. Q: My aunt left me her house when she passed away but she didn't have a will and we didn't have any papers signed to state that she wanted me to have it. She told my cousin [...]
A will, living trust and power of attorney are all useful documents to have in your estate plan. Which documents are right for you can depend on your situation and the size of your estate. Q: I would like to express my appreciation to you for your reply and guidance to a previous question some [...]
When transferring rental property to your child, is it better to sell it to them or leave it to them in a will? Both ways have their advantages and disadvantages. Q: First, I always enjoy reading your advice column in the Torrance CA Daily Breeze home guide magazine. Your article today, "Selling a rental property [...]
2013 is shaping up to be an exciting tax year for same-sex couples. This month, the Supreme Court has agreed to hear two cases that can change both federal tax laws and marriage laws. Who will be affected? These federal tax changes will affect same-sex couples who are legally married, as well as registered domestic partners (RDPs). It [...]
Q: What happens, if a person passes away and no one files probate because the estate has no assets? Do any of the deceased relatives become liable for taxes owed by the person that died? Would the relatives have to pay off the debts to the dead person’s creditors? A: When a person dies, the [...]
