Question: Can you add an addendum to a life estate. My parents created a life estate and the attorney told them they had to put their three children on the deed even though they only wanted to [...]

Question: In an attempt to find solutions to bypass probate, my husband and I set up a life estate in 2011. Both of our children are the remaindermen, and they hold title as joint tenants on the [...]

Question: April who is 93 years old owns property worth $1 million which she bought for $50,000. It’s subject to a $700,000 reverse mortgage. To further complicate the picture, April [...]

Question: What is the tax liability be on the sale of a house that was inherited through a life estate? Synopsis: life estate deed signed on 2021; life tenant passed away in 2023; prepared house [...]

Question: My parents created a life estate in Rhode Island. My dad passed away in 2022. The estate attorney noted the value of the home at $852K. Based on the life estate his estate reflected his [...]

Question: My mother’s house is in a life estate with the remainder in my sister’s and my names. She (our mother) is 86. When she passes how do we determine how much in capital gains [...]

Question: My stepmother has a life estate for our family farmland. She is 85.6 this month. My three sisters and I are hold the remainder ownership. A company wishes to purchase the land for [...]

Question: Can the Section 121 $250,000 capital gains tax exclusion apply when home is the remainderman’s principal residence? The property is in a life estate and both the life tenant and the [...]

Question: Mother and daughter are joint tenants with right of survivorship in mother’s condo. If they want to transfer the condo to an irrevocable trust, but reserve a life estate to the [...]

Question: We live in Massachusetts. In looking for ways to protect our home against MassHealth recovery laws, I have found two methods most talked about that will also allow for a step-up in cost [...]