Inheritance Advance for Minors: What You Need to Know
Inheritance is a process that can be both emotionally and legally complex. When it comes to leaving an inheritance for minors, the intricacies increase further. This comprehensive guide will provide you with pertinent information on inheritance advance for minors, explaining the legal aspects, requirements, and alternatives available. 1. Minors as Beneficiaries Minors can be beneficiaries […]
Probate Real Estate 101: All You Need to Know
Real estate probate refers to the legal process that must occur after a homeowner passes away. After a person passes away, their assets, including their real estate, must be distributed according to the instructions laid out in their will. This process is typically done through probate, which is a legal process overseen by the courts […]
Can a Beneficiary Stop The Sale Of a Property?
The ability of a beneficiary to stop the sale of an inherited property largely depends on the specifics of the estate, the local laws, and the terms of the will or trust, if any. The most important thing to understand about beneficiaries and their potential to stop the sale of an inherited property is that […]
What Happens To A Mortgage When Someone Dies?
When you die, someone has to keep up your mortgage payments. This means that the executor of your estate will first utilize your significant assets, other assets, or proceeds from life insurance to pay off your creditors before passing them on to your heirs. Mortgage debt, on the other hand, necessitates a different approach. Nobody […]
What to Do If You’ve Inherited Real Estate in California
Losing a loved one is hard enough. Dealing with their debt afterward is stressful. Most people who take a mortgage to buy a home don’t expect to pass away before paying it off, so what happens when this is the case? The mortgage doesn’t disappear just because the borrower dies. That may leave you, the […]
Can a Sibling Sell Inherited Property?
If you are reading this, more than likely you have just entered into probate and have a lot of questions. This is very common, and you are doing your part to better educate yourself on this journey. In this article, we are going to cover the common question of “Can Siblings Force The Sale of […]
Are You Required To Pay Estate Tax on Real Estate You Inherit?
Real-estate is not just a common type of asset, it also passes from one generation to the next through inheritance. Whether you are inheriting property or trying to pass your property down to a chosen beneficiary, know that there are basic tax implications associated with the probate process. Estate and inheritance taxes are notoriously complicated, […]
What Happens If You Inherit a House With or Without a Mortgage
Inheriting a home through probate can be tricky. Will you be assuming a mortgage on the home? Are you required to pay an estate tax on the sale of the house? Do you qualify for an exclusion? Do the new step-up in basis laws pertain to you? For all of these questions, it’s important to […]
