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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: "remaindermen"
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 How are Capital Gain and Section 121 Exclusion Allocated on Sale of Life Estate?
0
By Harry Margolis
In Real Estate
Posted December 7, 2024

How are Capital Gain and Section 121 Exclusion Allocated on Sale of Life Estate?

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 [...]

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 How Do We Calculate the Value of Our Life Estate?
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By Harry Margolis
In Real Estate
Posted April 5, 2024

How Do We Calculate the Value of Our Life Estate?

Question: My husband and I have a home in Florida and the deed is registered so that we have a life interest and our two daughters have a remainder interest. I thought we could just use the [...]

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 How Can I Safely Help My Mother Rebuild Her House?
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By Harry Margolis
In Real Estate
Posted January 31, 2024

How Can I Safely Help My Mother Rebuild Her House?

Question: My mother’s house burned down and she and my brother mismanaged the insurance money, so it wasn’t rebuilt. My fiancee and I would like to rebuild it. We’ve talked with [...]

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 What About Life Estates with Powers?
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By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted October 27, 2023

What About Life Estates with Powers?

Question: You mentioned life estates in one of your answers and how they relate to Medicaid. I’ve also heard about life estates with powers, which do not have all the limitations of life [...]

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 What Tables Are Used to Determine Life Estate Interest in Property?
2
By Harry Margolis
In Real Estate
Posted April 20, 2023

What Tables Are Used to Determine Life Estate Interest in Property?

Question: In your article “What Happens to Capital Gain when Joint Owner of Life Estate Dies?” what table issued by the IRS was used to determine that 8% of the proceeds should go to [...]

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 How Are Proceeds of Sale of Life Estate Distributed?
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By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted November 28, 2022

How Are Proceeds of Sale of Life Estate Distributed?

Question: My husband’s parents have a life estate….father passed away, mother recently moved to a nursing home. Siblings want to sell house. Is this possible without the life use [...]

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 How Can I Sell House in Life Estate if One Owner is Deceased?
2
By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted September 29, 2022

How Can I Sell House in Life Estate if One Owner is Deceased?

Question: My mom has a life estate. She may have to go into a nursing home. I need to sell her home. I have P.O.A.  My brother and I are also on the deed and my brother has passed away.The bank [...]

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 Is a Life Estate a Good Way to Avoid Probate?
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By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted January 31, 2020

Is a Life Estate a Good Way to Avoid Probate?

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 [...]

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 What Does Medicaid Do If We Sell a House in a Life Estate?
0
By Harry Margolis
In Long-Term Care Planning
Posted December 15, 2017

What Does Medicaid Do If We Sell a House in a Life Estate?

Question: My mother has a life estate in her home through a Lady Bird deed. It is her desire that the house go to me, her only child. I am also her agent under her durable power of attorney. If [...]

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This comprehensive guide provides all you need to know (in plain English).

Harry Margolis book: The Baby Boomers Guide to Estate Planning

Get the Book
(An Amazon Prime Reading selection)

Read Sample Chapters

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