Life Estate Deed: What Does It Mean And How Does It Work?

Life Estate Deed: What Does It Mean And How Does It Work? When you own a home that you love, you may have a dream of giving that home to your children once you pass away. But realizing that dream…

What Is a Life Estate and How Does It Work?

July 13, 2022
Bill O’Leary, Esq.
Estate Planning, Lady Bird Deed, Life Estate

What Is a Life Estate and How Does It Work? If you own a home, passing that property on to someone else — whether it’s a spouse, your children or someone else — requires planning ahead. That’s where a life…

What are My Taxes on a House I Inherited?

March 29, 2021
Bill O’Leary, Esq.
Estate Planning, Probate and Estate/Trust Administration

When a house is sold, the seller is responsible for paying tax on the profit in the year of the sale.

Is Transferring House to Children a Good Idea?

December 8, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Probate and Estate/Trust Administration

Adding an adult child to your house deed, or giving them the home outright, might seem like a smart thing to do. It usually isn’t.

Homeownership and Medicaid Can Be Problem

December 2, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Guardianship, Long-Term Care Planning, Power of Attorney, Probate and Estate/Trust Administration

Many people work hard to acquire real estate and then later find that that real estate makes them ineligible for Medicaid to help pay for nursing home or in-home, long-term care.

Do It Yourself Wills Go Wrong–Fast

I want to divide my estate equally among their three children. I’ve mapped out a plan to dispose of my property without any probate whatsoever. I put it together from what I’ve read on the internet. It’s just marvelous what you can learn by Googling things, don’t you think?

How Does a Life Estate Work?

When you use a life estate, how does it work? What are the restrictions and who pays the property taxes and other expenses for the home?