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Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself.
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Real Estate

Home / Probate /
 How Do I Calculate the Capital Gain on Sale of Inherited Property?
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By Harry Margolis
In Probate, Real Estate
Posted March 22, 2023

How Do I Calculate the Capital Gain on Sale of Inherited Property?

Question: I inherited lake shore property (vacant land–no house) that I am now selling. How do I figure the capital gains on the sale? Response: The capital gain will be the difference [...]

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 Must We Pay Taxes on Capital Gain on Sale of House in Trust?
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By Harry Margolis
In Irrevocable Trusts, Real Estate
Posted March 20, 2023

Must We Pay Taxes on Capital Gain on Sale of House in Trust?

Question: We recently sold my father’s home which was in a trust. My sister lived with my father from the 1990 until my father died in 2005, and continued to live at the property until 2022 [...]

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 Is Co-Owner of Apartment Building Entitled to Reports on Its Management?
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By Harry Margolis
In Real Estate
Posted March 9, 2023

Is Co-Owner of Apartment Building Entitled to Reports on Its Management?

Question: My sister owns half of a seven-unit apartment building with my brother. She wants quarterly reports and wants to be part of the decisions made with building, but my brother’s [...]

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 What Happens to Our House that We Cohabit with Our In-Laws When We Sell It?
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By Harry Margolis
In Non-Traditional Families, Real Estate, Revocable Trusts
Posted January 27, 2023

What Happens to Our House that We Cohabit with Our In-Laws When We Sell It?

Question: We share a house with our daughter and son-in-law. They pay on the mortgage but the mortgage is in our name as we had better credit. In addition, the title to the house is in our [...]

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 Can House in Credit Shelter Trust Get Step-up When Surviving Spouse Dies?
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By Harry Margolis
In Estate and Gift Taxes, Real Estate
Posted January 20, 2023

Can House in Credit Shelter Trust Get Step-up When Surviving Spouse Dies?

Question: Wife transfers her 50% interest in their house to husband’s revocable trust. Husband dies and 100% of house owned by credit trust in H’s trust of which W is beneficiary. When W dies,  [...]

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By Harry Margolis
In Real Estate, Revocable Trusts
Posted December 29, 2022

How Should Nominee Realty Trust be Changed when One Property is Deeded Out?

Question: About 15 years ago, my Dad, my brother and I quitclaimed our share of four properties into a nominee trust in Massachusetts. My sister didn’t put her share into the trust. The four [...]

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 Can I Rent Out a Room in My Home to My Mother as a Section 8 Tenant?
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By Harry Margolis
In Real Estate
Posted December 16, 2022

Can I Rent Out a Room in My Home to My Mother as a Section 8 Tenant?

Question: My mom lives in an apartment in Escondido, California. She has been on HUD for many years. She is 89 and I want her to move in with me so I can take care of her. I would have to evict a [...]

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 How Are Proceeds of Sale of Life Estate Distributed?
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By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted November 28, 2022

How Are Proceeds of Sale of Life Estate Distributed?

Question: My husband’s parents have a life estate….father passed away, mother recently moved to a nursing home. Siblings want to sell house. Is this possible without the life use [...]

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 Will House in Medicaid Planning Trust Receive Step-up in Basis?
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By Harry Margolis
In Irrevocable Trusts, Real Estate
Posted November 7, 2022

Will House in Medicaid Planning Trust Receive Step-up in Basis?

Question: My father created an irrevocable trust of which I am trustee and beneficiary. He put his residence into the trust for Medicaid planning purposes. He has since passed away. Did the [...]

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 What’s the Best Financial Plan to Remodel My House so My Dad Can Move In?
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By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted November 4, 2022

What’s the Best Financial Plan to Remodel My House so My Dad Can Move In?

Question: My dad who is 81 years old has been ill for the entire summer, I want to try to get him in a position to qualify for MassHealth in the future. He owns a condo that is in a life estate [...]

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This simple-yet-comprehensive guide provides everything you need to know (in plain English).

Harry Margolis book: The Baby Boomers Guide to Estate Planning

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Read Sample Chapters

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