Tenancy by the entirety, commonly abbreviated as TBE, is an ownership structure for real estate that’s used when the owners are a married couple. Under a TBE arrangement, each spouse owns an equal interest in the property, and the property will transfer seamlessly to the surviving spouse, in the event of one spouse’s death.
Usually, when you make a simple change in the title from tenants in common to joint tenants, the taxing authorities will ignore that change.
Estate planning is not just about saving taxes, it is also about managing and protecting your assets against future creditors, both for you and for your beneficiaries.
All real estate investors need to consider what to do with all of their real estate assets when estate planning. After all, the last thing you want is to have your will end up in probate court, where it could be years before your estate settles. With that in mind, here are some options on how to include real estate investments in your will.
I am currently married but I purchased a home from my mother before my marriage. I added my younger sister to the deed at the time of purchase, so the house would remain in the family if something happened to me. I have been paying the mortgage and bills myself for three years now. However, now that I’m married to a great woman, who would get the house when I die?
If you want a legal plan that avoids probate court, there are two options: first, an enhanced life estate deed, and second a living trust. Each has its pros and cons.
Planning for the end of your life can be intimidating. When you are a farmer, your business is not only your livelihood and your passion, but, often, it is also intermingled with your family life. For that reason, estate planning — arranging for the management of your assets once you die — is especially important for aging farmers.
Is it time you made a decision on the future of the wonderful getaway that everybody loves but only you maintain?
When you are a farmer, your business is not only your livelihood and your passion, but, often, it is also intermingled with your family life.
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