Is an Inspection Required When a Home is Gifted to You by a Relative?
Is an inspection required when a home is gifted to you by a relative? This reader wants to know if she should get an inspection on the home that was gifted to her by a relative. Here’s what I suggest. Q: If a home is gifted to an adult child, does it need to be [...]
Ex-Spouse Can’t Pay Mortgage – Now What?
There are friendly and not-so-friendly divorces. But if your ex-spouse can't pay the mortgage because he lost his job, should you step forward and offer to pay off the remaining amount and give him the house just to be completely done? What's the price of being done? What would you do? Q: I have been [...]
Objectivity Helps Divide Assets During a Divorce
During a divorce, it helps to stay objective. An emotional attachment to your assets isn’t always worth the financial burden of fighting to keep them. Q: I am a 60-year old female with a part-time minimum wage job and I just got served papers for the dissolution of a 17-year marriage. We have a beautiful [...]
Capital Gains Tax When You Sell Your House After a Divorce
After divorce, your capital gains tax burden on the sale of a property owed with your ex-spouse can be difficult to determine. Q: I separated from my husband five years ago, was divorced four years ago. As part of the divorce decree, he was to live in the house until both of our children went [...]
Will, Living Trust and Power of Attorney: Which Do I Need?
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 [...]
Estate Planning & Protecting Assets from an Estranged Spouse
In most states, estranged spouses are entitled to a portion of their spouse's estate. Protecting your assets, as in this reader's case, can be complicated but an estate attorney can help. Q: I was married in 2010. My husband left me in 2014. In 2015, I purchased a house. I have four daughters, none with [...]