ADDITIONAL INFORMATION: My grandparents own their property and want me to have it as a result of them passing away. I thought they put my name on the deed but didn’t. I need to know how do i go about that. ANSWER BY MARGARET CROSS-BELIVEAU: Depending on what their goals are changing the deed might not be the best option. Adding you opens the property up to your creditors. It is a gift and results in
ADDITIONAL INFORMATION: Not sure if any additional legal forms are needed so when I die my son completely owns the property, we both jointly own now. ANSWER BY MARGARET CROSS-BELIVEAU: It depends on the type of tenancy that is stated in the deed. You either own it in joint tenancy or tenancy in common. If you own it as a joint tenant, upon the death of one of you, the surviving joint tenant becomes the sole
The Perils of Dying Intestate Every person’s ultimate goal in estate planning should be to maintain control over his or her property and have his or her final wishes honored. However, when an individual dies without a will, this control is forfeited, often leading to consequences that may be far from what the decedent would have desired. This predicament is amplified for those who are single and own real estate individually, especially in states like Massachusetts,
Estate planning attorneys play a vital role in helping clients protect their assets and ensure a smooth transition of wealth to their loved ones upon passing. In the states of Massachusetts, New Hampshire, and Florida, where we practice, the tax implications of selling real estate subject to probate can be a complex and crucial aspect of estate planning. In this article, we will discuss the tax considerations involved when selling real estate as part of the
ADDITIONAL INFORMATION: Trying to find the right and cheapest way to but my husband on his mom’s house. I don’t know if we should make a trust for the house or change the deed. I really don’t know what way to go. Mom has dementia and bipolar. She want to has us get the house without probate. ANSWER BY MARGARET CROSS-BELIVEAU: Having dementia doesn’t mean that one is incompetent. However, if your husband is not an
ADDITIONAL INFORMATION: I put my son’s name on my deed so he would have no problem in case I died. I am trying to get a reverse mortgage and cannot obtain it with him on my deed and he will not take himself off. What can I do? ANSWER BY MARGARET CROSS-BELIVEAU: Unfortunately, once you gift your assets away, you can’t force the recipient to return it. If you take a reverse mortgage, the amount due
ADDITIONAL INFORMATION: I am currently engaged and my fiancée lives with me. I would like to have a document that states she can live in the house for up to a year, should I die before her, and after that my children would get the estate. ANSWER BY MARGARET CROSS-BELIVEAU: Yes, you can give her the right to live in the house in your will. That is common. However, you also have to consider the question
ADDITIONAL INFORMATION: My dad gifted me his house but reserving a life estate. Can he rent the house or call the police on me to leave the home? ANSWER BY MARGARET CROSS-BELIVEAU: Yes. Life tenant has reserved the right to live there and the proceeds of income of the property until his death. Unless his actions are negatively effecting the value of the real estate, you don’t have authority over the property. Follow us on Facebook
ADDITIONAL INFORMATION: I am helping an elderly disabled friend who fears his wife who disappeared more than 30 years ago may reappear after he dies and cause problems. He wants to will his home to a friend. To his knowledge, she knows nothing of the property where he had lived since shortly after she left. ANSWER BY DAVID M. BELIVEAU: If his wife is living, she will have spousal rights to his probate estate. Also, under
My parents home was only in my father’s name. He passed away 7 years ago, leaving his estate to my mother, per his will. She continued to make the monthly mortgage payments and nobody every mentioned anything to her. Now, her mortgage has been transferred to a new loan company they’re saying she needs to get the deed put into her name. She’s struggling with money at this time and the people she keeps trying to
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