Currently, inheritance of a certain amount or value is subject to an inheritance tax. However, these regulations are changing. Look here for more information about when inheritance tax applies and any changes in the law.
How Can Property Go To A Spouse After Death?
How can property go to a spouse after death? Brother gave his sister the deed and never put his wife on title to their home. Q: Our local newspaper printed one of your articles, “Joint Property Co-Owner Dies Without Will.” My brother recently passed away. He was married but never made the effort to put [...]
Elder Fraud or Elder Abuse?
Elder fraud or elder abuse? Godson worries his family is trying to steal his godfather's money Q: I'm wondering if someone is trying to steal my godfather's money. It could be a case of elder fraud or elder abuse. Here's what's happening: My godfather was put into assisted living by his family. He has a [...]
Capital gains tax on inherited property?
Capital gains tax on inherited property? Q: My husband died and I am the beneficiary of his trust, which was transferred to me. Basically everything he owned is in the trust, including our home. I transferred the title to the home into my name. I took no money out of the trust and I didn’t [...]
Inherited Property with a Long-Term Lease
What happens if you inherited property with a long-term lease? Q: I'm writing about your recent column that dealt with a family inquiring about an inherited property with a long-term lease. I know of a similar situation where a family leased one of the best locations in town to a large burger franchise restaurant decades [...]
Will my son inherit the house?
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 [...]
What to do with Inherited Property that is Leased
What to do with inherited property that is leased? https://www.youtube.com/watch?v=oeQ0uX-Li4w Tenants, leases, and inherited property. What happens when you inherit property but it comes with a tenants? Are there options for handling with this lease? Q: My brother and I inherited several acres of commercial property from our parents. The land came with [...]
Inheriting Property with Siblings
Inheriting Property with Siblings? If you and your siblings are inheriting property from your parents or another family members, and everyone isn't on the same page about keeping or selling the property, you'll want to read this story. Distributing Assets Differently then Stated in the Will This week, we’re publishing comments and observations about two [...]
Is There a Tax on Cash?
Is there a tax on cash? What about a cash inheritance? How do I understand what tax my father-in-law owes on his cash? Q: My wife's father is close to death and he has moved all of his investments into his bank in the form of cash. He said that was done to help my [...]
Should Parents Split an Inheritance Equally? Not Always
Should parents split an inheritance equally? Not always. There are many reasons why you might not want to treat all children equally. Read more: Sign up for my Love, Money + Real Estate newsletter. Should parents split an inheritance equally? One of our readers sent in this question: Q: My mom is in her 90s, [...]
How to Manage Inherited Property Split Between Siblings
How to manage inherited property split between siblings. This reader wants to either buy his sister out or sell the property, but she refuses. Q: My boyfriend’s mother died several months back. He wants to either buy his sister out or sell the property, but his sister has refused his verbal requests to buy her [...]