Peter Jay Visser’s Answers

Peter Jay Visser

Lynden Estate Planning Attorney.

Contributor Level 14
  1. Do the eight of us siblings have to pay taxes on our share of the sale of the Estate house?

    Answered almost 2 years ago.

    1. Peter Jay Visser
    2. Christopher Michael Larson
    3. Evan A Nielsen
    3 lawyer answers

    You should owe no taxes on the sale. Just getting a 1099 does not mean you owe taxes, just that you have to report the sale, and pay taxes if there is a profit on the sale. Property received as an inheritance gets what is called a "stepped up basis." That means that it is treated as you having "paid" the amount it was worth on the date of death of the person from whom you inherited. So, unless you sold the property for more than it was worth on the date of death, you will not be...

    10 lawyers agreed with this answer

  2. Sister had power of attourney of my moms assets. Ther was no will. Over 100-k in the bank. My sister took all the money when my.

    Answered over 1 year ago.

    1. Peter Jay Visser
    2. John S. Palmer
    3. James Marston Brown
    4. Joseph Franklin Pippen Jr.
    4 lawyer answers

    You should contact an attorney regarding this matter. It is possible that the bank account was joint tenancy with the right of survivorship. If so, and if it was properly done, the money could legally belong to your sister. It is also possible that your sister used the power of attorney to set up her signature on the bank accounts. If this is the case, she should not have a claim to all of the money. See an attorney to have this checked out immediately.

    8 lawyers agreed with this answer

  3. Can a 1-year lease agreement be terminated in the event a family member needs to move in to the space?

    Answered over 2 years ago.

    1. Peter Jay Visser
    2. Ryan J. Weatherstone
    3. Shawn B Alexander
    3 lawyer answers

    The short answer to your question is NO. The tenant has the right to remain in the property for the full year as long as they do not violate the terms of the lease.

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  4. Is this Will valid under NJ laws? The will is called into question in terms of its validity in a China court.

    Answered 10 months ago.

    1. Peter Jay Visser
    2. Steven M Zelinger
    3. Joseph Franklin Pippen Jr.
    3 lawyer answers

    Probate law in the United States is state specific (It can be different for each state), so your question would get better answers if it were posted as a New Jersey question. Since the will was drafted by an attorney in New Jersey, it probably meets all of the requirements of a valid will. That would mean that it would have to be proven that the will was signed as a result of fraud or undue influence. In most states, that would be very hard to show, especially since most attorneys take...

    7 lawyers agreed with this answer

  5. Do we have any legal recourse for a seller fabricating a breach of real est contract in order to accept a higher back up offer?

    Answered 12 months ago.

    1. Elizabeth Rankin Powell
    2. Peter Jay Visser
    3. Shawn B Alexander
    4. Celia R Reed
    4 lawyer answers

    Were you dealing with a real estate salesperson who was representing you on the purchase? They should have been on top of this, and may have some responsibility. You could argue that the seller received notice on the feasibility acceptance because of the follow through on the other conditions, but you may have waived any rights by "agreeing" to the new sale price. In short, you need to take the paperwork to a real estate attorney, and follow the attorney's advice.

    6 lawyers agreed with this answer

    1 person marked this answer as helpful

  6. How do we get reimbursed?

    Answered over 1 year ago.

    1. Peter Jay Visser
    2. Justin Eric Elder
    3. James P. Frederick
    3 lawyer answers

    You may not be able to get reimbursement. You were not legally liable for her funeral costs. If she had any assets, you could start a probate and present the bill to be paid from the assets of the estate. However, from your statement of facts, it seems that she might not have any assets worth probating. If not, I know of no way for you to be reimbursed, unless you find a relative who is willing to volunteer to do so.

    6 lawyers agreed with this answer

    1 person marked this answer as helpful

  7. What are a wife's rights if her husband dies and their home was willed to him by his father on condition it pass to his children

    Answered over 1 year ago.

    1. Peter Jay Visser
    2. Jared N Hawkins
    3. Eric Jerome Gold
    4. James P. Frederick
    4 lawyer answers

    While I agree with the other answers to this question, I write to add that, even if there is a will which leaves you nothing, you would still be entitled to make a claim for an award in lieu of homestead from the estate. This may help a little in that situation, at least if he has any assets to probate. You should contact a probate attorney immediately.

    6 lawyers agreed with this answer

    1 person marked this answer as helpful

  8. What rights do grown children have to an estate if a parent remarrys prior to their death.

    Answered over 2 years ago.

    1. Peter Jay Visser
    2. Steven J. Fromm
    3. Maryellen Sullivan
    3 lawyer answers

    The proper time to settle this issue is now, before the marriage. You should discuss what each of you wants to have happen to your estates in the event of your death. Then each of you contact an attorney and get legal advice, and sign a pre-nup. That said, what anyone wants to leave to their children is totally up to them, as long as they are legally competent and not under undue influence. No child is entitled to inherit anything from their parents just because they are a child. Also,...

    6 lawyers agreed with this answer

  9. Transferring mortgaged building from LLC owned equally by my mother and brother to my own LLC.

    Answered over 2 years ago.

    1. Peter Jay Visser
    2. Adam Morrow
    3. Steven J. Fromm
    4. Mark S. Katz
    4 lawyer answers

    You don't say where the property is located. If it is in Alaska, then an Alaska attorney should be consulted to determine the consequences of this transfer. If the property is located in Washington, you may find that the transfer is subject to real estate excise tax (1.78%), at least to the extent of the balance owed on the mortgage. Your question also raises the issue of gift tax. Depending on the value of the equity in the property there may be gift tax and/or lifetime exclusion use...

    6 lawyers agreed with this answer

  10. Guardians of adult with Permanent Residence Card have died.

    Answered over 1 year ago.

    1. Peter Jay Visser
    2. Kevin Lawrence Dixler
    3. Bruce Clement
    4. Michael Hugh Carlin
    5. Chandra Melissa Lewnau
    6. ···
    7 lawyer answers

    First, you are not required to become her guardian, but you probably may, if you wish. You first need to determine if your parents were appointed by the court, or if this was just an informal arrangement. If it is a formal guardianship, the procedure would be to petition the court handling the guardianship to be appointed successor guardian. The qualification is not very difficult, but some people don't qualify. Depending on her degree of disability, you might be able to get by with a...

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