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re: General Information for handling deceased parents estate.
Posted on 2/27/24 at 9:25 am to DieSmilen
Posted on 2/27/24 at 9:25 am to DieSmilen
After my mom passed away my sister and I put our name on everything my dad owns so it doesn’t have to go through probate. We did a quit claim deed for houses. We put our names on both vehicles and the checking account. We are already listed as beneficiaries on investment and insurance accounts.
IMO that should save us a ton of headaches later on.
IMO that should save us a ton of headaches later on.
2
Posted on 2/27/24 at 3:45 pm to Motownsix
Are you in Louisiana?
I ask as we are and my understanding is the in Louisiana there is no way to avoid probate.
Husband and I have both parents so we’ve never had to deal with any of this. We’re starting to get ourselves set up to avoid as many issues as we can. Well to make it easy for our children when the time comes.
I ask as we are and my understanding is the in Louisiana there is no way to avoid probate.
Husband and I have both parents so we’ve never had to deal with any of this. We’re starting to get ourselves set up to avoid as many issues as we can. Well to make it easy for our children when the time comes.
Posted on 2/27/24 at 6:20 pm to Motownsix
quote:
After my mom passed away my sister and I put our name on everything my dad owns so it doesn’t have to go through probate. We did a quit claim deed for houses.
I think you might’ve bought yourself a huge tax bill when you go to sell this, your basis will be whatever he originally paid. If he’d died the owner, you’d get a stepped up basis to what it was when he died.
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