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imakernal · Joined: 18 Apr 2011 Posts: 1 1.27 Dollars($)

A frind has put in his will that my wife will get his home when he dies .Would it be better and tax free to make out a quit claim deed

smithsussane · Posted: Mon Apr 18, 2011 7:45 pm Post subject:

Hi imakernal!

Welcome to forums!

After your friend's death, your wife will have to probate the will in order to get the property transferred in her name. It will be a better option if your friend signs a quitclaim deed and transfers the property to her. As far as taxes are concerned, it will be better to contact a CPA in this matter.

Feel free to ask if you've further queries.

Sussane

dipaligopale · Joined: 25 May 2010 Posts: 790 22.70 Dollars($)

Hi imakernal ,

Welcome to mortgagefit,

As far as tax issues are concerned,you need to get it confirmed from the friend whether he/she has used the lifetime $ 1 million gift free tax quota yet or not? if not then surely you will be able to claim that tax free upto $ 1 million.

Feel free to ask any further query if you have.........

DIPA

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A frind has put in his will that my wife will get his home when he dies .Would it be better and tax free to make out a quit claim deed

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