Question: If my parents have a revocable trust that gives life use to their home to my sister after they have passed and she cannot pay for the expenses (taxes, insurance etc) of maintaining the [...]

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: 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: We are Canadians and we own condo in California, where our daughter lives. We would like to transfer the property to our daughter. What is best way, considering USA and Canadian taxes? [...]

Question: My parents gave me a life estate on the property in which my house sits. My father has passed away but my mother is still living. I have my house paid for now. Should I have the life [...]

Question: My two sons are British citizens living in the United Kingdom. They are beneficiaries of my trust here in the United States. How can they claim or receive the money? There’s no [...]

Question: Are Nominee Trusts (or Realty Trusts) revocable by nature? Since they don’t require a trust tax return at the end of the year, and it is my understanding that they are of [...]

Question: My husband has been in a nursing home for two years already. I need to sell 5 rental homes that I cannot manage and don’t want any more. Can I sell them if they are on my name? [...]

Question: If a property appraisal was never obtained when a parent died in 2013, how can we determine the cost basis when the four siblings who inherited the home sell it? Response: As you know, [...]

Question: I have three children, one of whom is an incapacitated adult. I thought of preparing a will, leaving my house to the three children but putting the one third of house in a supplemental [...]