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re: Best Way to Transfer Real Estate to Heirs
Posted on 8/17/23 at 8:58 pm to Im4datigers
Posted on 8/17/23 at 8:58 pm to Im4datigers
quote:
The best way - come to the TD Money Board instead of an attorney or CPA of course!!! Hahahah
I don’t know why people say this. I’m fairly certain the only ones that do either never use a professional and don’t understand that all professionals are not perfect or all knowing, or are professionals full of themselves. The fact is there’s a lot of benefit to posting situations online and then taking the notes to a professional for additional advice.
Op, I would strongly consider whether or not all 4 want and can afford an equal share. Many times it’s much better to split an estate by giving real estate or other items to a single member and cash or other assets as fair as possible.
There’s few things that will tear a family apart faster than inherited family property. It may be beneficial to even consider paying someone off outside of the inheritance.
This post was edited on 8/17/23 at 8:59 pm
Posted on 8/18/23 at 8:54 am to baldona
quote:
There’s few things that will tear a family apart faster than inherited family property. It may be beneficial to even consider paying someone off outside of the inheritance.
^^This^^
When the property ownership gets diluted with multiple owners it can complicate things. Many developers have had to get multiple releases on a property that has been passed down from generation to generation making it a nightmare at times. I've seen this with family farms later to be developed into a subdivision or something else.
This post was edited on 8/18/23 at 8:57 am
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