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 [...]
Question: My mother passed away two years ago and she left her husband a life estate in their primary residence via her Living Trust. The Trust designated my sister as the Trustee after my [...]
Question: My father remarried after my mother died. He was in his sixties. He owned our family home and had no mortgage or liens, etc. He never put his second wife on the deed as he wanted to [...]
Question: Our home loan is paid off. We have our home in a trust for our children to receive in the event of our death. Can we take out a home equity loan on our home? Do we have to remove from [...]
Question: I inherited a home with my sister which has a value of about $540,000 and no mortgage. She wants to live in the house. What would be the normal agreement of who pays what bills? Is [...]
Question: My parents have had a life estate for 12 years. The deed is in their adult children names. Both parents are in nursing home where their Social Security and pension pay for their care [...]
Question: My home is in a revocable trust. Can I get a home equity loan on it? Response: Most lending institutions require that property be transferred back into the name of the owner before [...]
