Posted: Sat Nov 19, 2011 10:23 pm Post subject: estate
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My mom left me a house that she listed as a gift outside of her trust. The executor has not transferred the house to me yet. Who should be responsible to pay the now due taxes? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
Ownership rights or claims to property, both real estate and personal property, at the time of death. The total of a person's assets passes to his heirs, according to the terms of a will, or is disposed of at the discretion of a probate court if no will is left. Individuals plan for the orderly distribution of an estate through estate planning, which involves the drawing of wills and creation of trusts, to achieve maximum benefit for heirs or trust beneficiaries in event of death.
Unless the property is transferred to you completely, the estate will be responsible for paying off the due taxes. You may not be liable for paying the taxes now. _________________ Procrastination is the enemy of your financial success