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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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Archives

Tag Archives for: "life estate"
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0
By Harry Margolis
In Real Estate
Posted June 27, 2021

Are Remaindermen on Life Estate Legally Responsible for Costs of Maintenance?

Question: I am a remainderman with five others of property held in a life estate. The life estate holder is asking for reimbursement from the remaindermen for expenses paid for the house. I [...]

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 Will Medicaid Require Beneficiary Under a Will to Receive Portion of Proceeds in Sale of Family Home?
0
By Harry Margolis
In Long-Term Care Planning, Wills
Posted December 29, 2020

Will Medicaid Require Beneficiary Under a Will to Receive Portion of Proceeds in Sale of Family Home?

Question: Is a life estate vested and effective if it’s created in a will which also requires the sale of the property (presumably terminating the life estate) and division of proceeds [...]

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 Am I Protected if My Husband with a Life Estate Dies Before Me?
4
By Harry Margolis
In Non-Traditional Families, Real Estate
Posted December 1, 2020

Am I Protected if My Husband with a Life Estate Dies Before Me?

Question: My husband and I are both in our mid sixties and his son suggested that we build a house on his property and offered to give my husband a life estate in the property. If my husband dies [...]

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 Will a Contract to Sell a Property in a Life Estate Affect the Step-Up in Basis?
0
By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted September 1, 2020

Will a Contract to Sell a Property in a Life Estate Affect the Step-Up in Basis?

Question: I have a question about my mother’s two-family house. It’s amazing that she has survived the pandemic and will be turning 104 in September. She is in a nursing home and is covered [...]

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 Can Our Father’s Widow Sell Her Life Estate in the Family Home?
0
By Harry Margolis
In Real Estate, Second Marriages
Posted September 27, 2019

Can Our Father’s Widow Sell Her Life Estate in the Family Home?

Question: My father remarried after my mother died. He was in his sixties. He owned our family home and had no mortgage or liens. He never put his second wife on the deed because he wanted to [...]

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 Can I Sell My House Despite Medicaid Estate Recovery?
18
By Harry Margolis
In Long-Term Care Planning
Posted September 21, 2018

Can I Sell My House Despite Medicaid Estate Recovery?

Question: I have been receiving Medicaid benefits for ten years and had no idea until recently that the state could seek money for medical expenses they paid for after I turned 55. I am 65 and am [...]

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 Can Part Owner of Real Estate Create a Life Estate?
0
By Harry Margolis
In Non-Traditional Families
Posted July 6, 2018

Can Part Owner of Real Estate Create a Life Estate?

Question: If my sister and I inherited half of our dad’s house after he passed and then his wife went down to the courthouse and filed a life estate, is this legally binding? We had no [...]

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 Can Co-Owner of Real Estate Create a Life Estate?
2
By Harry Margolis
In Non-Traditional Families
Posted June 22, 2018

Can Co-Owner of Real Estate Create a Life Estate?

Question: If my sister and I inherited half of our dad’s house after he passed and then his wife went down to the courthouse and filed a life estate, is this legally binding? We had no [...]

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 What Happens to Capital Gain when Joint Owner of Life Estate Dies?
0
By Harry Margolis
In Real Estate
Posted January 19, 2018

What Happens to Capital Gain when Joint Owner of Life Estate Dies?

Question: Both of my parents had a life estate, deeded as tenants in common to my brother and myself as remaindermen. Our father passed in 2006 when home was assessed at $100,000. The life estate [...]

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 How Can Parent Protect Rights After Transferring House to Child?
0
By Harry Margolis
In Asset Protection, Long-Term Care Planning, Real Estate
Posted January 12, 2018

How Can Parent Protect Rights After Transferring House to Child?

Question: My mom is going to transfer the deed of her house to my name only, but she would like some kind of agreement that she can live in the house for as long as she lives, almost as a [...]

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  • Second Marriages (10)
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