How to leave property to a child. This reader wants her daughter to inherit her home, but doesn’t want her to have to go through probate. Q: I am a 77-year old widowed woman. I have a house with a mortgage that I purchased a little over a year ago. At the closing, I asked [...]
Using a quitclaim deed to put property in living trust. This homeowner has questions about signing a quitclaim deed to put property into her husband's living trust. Q: My husband used his inheritance to purchase our home outright. I signed a quitclaim deed to him to put the property into his living trust. The condition [...]
Can you sell your home if it’s held in a living trust? It all depends on how you set up the trust and what happened with the quitclaim deed. Q: In 2012, I set up a living trust, and at that time signed a quitclaim deed to my house and property over to my daughter. [...]
She inherited her Dad’s house but his ex-wife just moved in. How do you remove your dad’s ex-wife from a house you inherited? Q: My wife just found out her father died. His home, which is in South Carolina, was left in a living trust. She was also told she is the last living and [...]
What is the right way to title a home purchase to reduce future taxes? Should you choose joint tenancy with rights of survivorship or a trust? What impact will the way you hold title have on capital gains or inheritance taxes? Q: My mom sold her property and put all of the proceeds into [...]
With a family-owned property, the rules can get complicated. Here’s what you need to know. Q: Eight members, cousins and siblings, currently share ownership in a summer cottage in Maine. Our current rules have worked fine for over 80 years but as the family ownership expands, things will ultimately get more difficult. We are considering [...]
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 [...]
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 [...]
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 [...]
What is a successor trustee? And, can she live abroad? We get questions like these fairly frequently, as immigrants to the United States often try to buy a home as quickly as possible. But, they may not have anyone living in the United States who they trust to take care of their wishes. Q: My [...]
