What happens to house if husband passes away

If only your husband's name is on the deed, you would receive a life estate as his spouse, and his children would have a remainder interest in the...

Legally, a properly drafted lady-bird deed will allow the grantor to subsequently deed the property to another person without the consent of the...

My husband passed away. There is no will. We were separated but not divorced. Do I need a Formal or Summary Administration?

Mr. Davis provided an excellent answer. I recommend contacting a local attorney who is well versed in the rights of a surviving spouse to assist...

If I plan to deed my home to my son, life estate back, will my senior property tax exemption in Hillsborough Cnty FL be viable?

Your question appears to confuse several important planning issues. Generally, unless you have an estate worth over 5.43 million, there is no need...

Do I have to sign a waiver and concent in order for my Aunt's will to be probated, and what if I do not sign it?

No, you do not have to sign any waivers. However, it is often better to sign waivers and consent to actions rather than requiring them to serve...

How do I put a property deed that has me listed as JTWROS in my name when the lead owner passes?

Generally, you record a certified short form death certificate in the public records which automatically will transfer title to the remaining...

Gift Taxes

As the previous attorney answered, there will be no tax payable. However, you would be required to file a gift tax return for reporting purposes...

Lifetime Exclusion. Can you gift 4 people $50,000 without having to pay taxes on it?

The lifetime gifting exclusion amount was increased to 5.43 million this year due to inflation Also if your sister is married, her spouse could...

My mother has a small house that is worth maybe $20K. She says that it will not have to go through Probate in Fl. Is this true?

Whether or not probate is necessary depends on how the house is titled. You would need to look at the deed. If the house is in your mother's name...

Do I need a will or trust to direct sale of home into a fund for mom's care?

You will need a trust. However you can do this in a will (using a testamentary trust in the will) or with a revocable living trust. I would...