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Preparing a will can be a complicated process, but things can get even trickier when it comes to bequeathing assets to your married children. In this situation, a divorced senior living in a $1.3 ...
An inheritance trust – also known as a family or testamentary trust – is a legal arrangement designed to manage and protect assets for the benefit of heirs or beneficiaries after the grantor ...
Pennsylvania does not tax the inheritance of spouses and children under the age of 21. Inheritance Tax vs. Estate Tax These examples apply to inheritance tax, which is a state tax on the money ...
Under a community property regime, depending on the jurisdiction, property owned by one spouse before marriage, and gifts and inheritances received during marriage, are treated as that spouse's separate property in the event of divorce. All other property acquired during the marriage is treated as community property and is subject to division ...
A will contest, in the law of property, is a formal objection raised against the validity of a will, based on the contention that the will does not reflect the actual intent of the testator (the party who made the will) or that the will is otherwise invalid.
When your child is added to the deed, they inherit its original cost basis. If they inherit the property after your death, however, their cost basis becomes its fair market value at the time of ...
In the decades leading up to the 1970s child custody battles were rare, and in most cases the mother of minor children would receive custody. [5] Since the 1970s, as custody laws have been made gender-neutral, contested custody cases have increased as have cases in which the children are placed in the primary custody of the father.
If you live in a state with community property laws, your spouse is likely to inherit the property and the responsibility for the debt, whether or not they’re jointly listed on the mortgage.