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#inheritance
fromIndependent
3 months agoParenting
'Our elderly dad is leaving the farm to us in his will. But his new wife says she is automatically entitled to a third of his estate so we will have to sell the land. Can this be true?'
Family concerns over farm inheritance after father's remarriage highlight the importance of legal safeguards like trusts.
fromSFGATE
1 week agoDebunking Probate Myths About Your Home: 5 Key Takeaways
Probate, often feared and misunderstood, is a court-supervised process that settles a deceased person's debts and distributes assets according to their will or state law. The concerns around probate usually revolve around cost, time, and privacy, with horror stories amplifying the perception of it being a process to avoid at all costs. However, the reality of probate's difficulty varies significantly depending on the state laws, making it crucial to understand the specifics of your local probate system to determine if avoidance strategies are necessary.
Law
fromRedfin | Real Estate Tips for Home Buying, Selling & More
2 weeks agoWhat to Know About Gift Tax on Property: A Comprehensive Guide
Annual gift tax exclusion: $19,000 per person in 2025 ($38,000 for couples). Lifetime gift and estate tax exemption: $13.99 million in 2025, but expected to drop in 2026. Inheritance advantage: Stepped-up basis often saves heirs from significant capital gains taxes. Trusts and spousal transfers: Effective tools for transferring property when dealing with larger estates or married couples. Gifting a property to a loved one can feel like a generous way to pass on wealth, but the stringent regulations
Real estate
Music
fromBusiness Insider
3 weeks agoTony Bennett barred his daughters from managing his money or legacy. It fueled an estate war that's still raging.
Tony Bennett's 2016 trust gave his two sons control over estate finances, excluding his daughters and prompting an ongoing legal battle over limited inheritance.
Retirement
from24/7 Wall St.
3 months agoI Have Millions, But I Don't Want to Leave My Kids Any Money Due to Political Differences
Wealth transfer is increasingly influenced by political and ideological differences within families.
Trusts are becoming a popular option for inheritance planning to address differing values.
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