Selling Mom's House
sjerin
8 years ago
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morz8 - Washington Coast
8 years agojemdandy
8 years agoRelated Discussions
Sale of Mom's house..questions...
Comments (4)Surprised to see this old thread resurrected. However, candler's post is not quite accurate: "I've heard when one inherits property their basis becomes whatever the property was worth when the parent died. " It depends on how the property was titled prior to death. Property held in Joint Tenancy - a huge, huge mistake - only gets the step-up basis on whatever percentage of the property the deceased owned. Property held by spouses as community property will get a full step-up in the tax basis upon the death of the first spouse. Attorneys are generally not specialists in inheritance tax issues. The proper experts to consult, as agnespuffin posted, is a tax advisor....See MoreHave a question about selling Moms house
Comments (13)"Amen," to what Sushipup just said. Paying for legal advice from a competent elder care attorney is worthwhile. It's much better to speak with an attorney before complications arise. That way, your attorney will be familiar with all the specifics that are unique to your situation when or if trouble arises. And having a small estate should not be a consideration. Even someone with just a house and a bit of savings can run into difficulties if they or their relatives do not do things properly. Consider it like insurance. You pay it and maybe nothing ever happens for a while.But when it does, you're glad you have it. When you have to deal with the complexities of Medicaid, etc., you'll be glad you consulted with an attorney and have a good CPA on your side. My county's Council on Aging provides low cost, sometimes free, services for the elderly. Can you avail yourself of a similar service?...See MoreDANG! selling Mom's house....
Comments (4)Good luck Kathy! Sorry to hear your mom's home did not appraise at your selling price. Hope it all works out for you now....See MoreSelling Mom's house complications
Comments (18)I'm so sorry you're going through all this. When my husband died 11 years ago, I quickly discovered (in about 2 hrs the morning after his death, late the night before!), that very little can be done without a death certificate. I also realized that the funeral home with whom we were dealing, were idiots. So, I got the correct forms from them, called the doctor's offices and asked if I could bring the forms in right away and he could sign them while I waited, and then drove 1 hr away to the State Capitol where the office that issues the certificates, is located. I had called ahead to be sure they could do the work while I waited. Yes, they could. Got there about 30 minutes before they closed and when they realized he had died the night before, they were very sympathetic and quickly issued the certificate. I got 12 copies and only have 2 left - I'm STILL being asked for this 11 years later. When you get it, read it VERY carefully. When my father died, they had him listed as "female". It took us 3 months, multiple phone calls and innumerable documents to prove to the State of Missouri, that my father was actually male....See Morechisue
8 years agoarcy_gw
8 years agosusanjf_gw
8 years agochisue
8 years agoSuzi AKA DesertDance So CA Zone 9b
8 years agosjerin
8 years ago
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sjerinOriginal Author