Real Estate

Question: I am a beneficiary in a nominee trust of a house and have a question about capital gains taxes. My parents bought the house in 1970, and set the trust up in 1990 for my 3 siblings and [...]

Question: I have a client for whom I am selling her mother’s home. Her mother has dementia (some days better than others) and has been in a nursing home for a couple of years. She applied [...]

Question: Which Massachusetts tax form do I file for a nominee real estate trust? The only income is interest earned of $1,600 from the proceeds sitting in a bank account until they were [...]

Question: We have a home equity line of credit on our home, on which we owe $6,000 now. If we deeded it to a revocable trust to pass to our children upon our deaths, could we still borrow on the [...]

Question: Can a legal guardian of an elderly parent still appoint himself as a durable power of attorney to sell a property without a court’s permission? Then withdraw the guardianship [...]

Question: My minor child has inherited two properties along a with 15% inheritance tax that I can’t afford. I am the executor of the estate that she is inheriting. I don’t really want [...]

Question: In California, can I have my parents deed their house to me as compensation for taking care of them? It has been 5 years and I am drowning. Response: I don’t practice in [...]

Question: My mother-in-law has been given approximately six months to a year to live and would like to pass the house to my husband, her only child, and avoid probate. Would a life estate deed [...]

Question: If I transfer real estate into a regular trust, does it constitute a sale and result in capital gain tax and property basis step-up? What if I transfer it to a nominee trust? Response: [...]

Question: I just have three nominee trusts set up to hold rental properties. Not all major banks in Massachusetts provide realty trust bank accounts. So can I continue to use my own personal bank [...]