Q: My dad is downsizing and is planning to leave me and my fiance his fully paid off house. We need any advice to get start
Should we inherit or transfer deed into name and just pay the property taxes?
A: A Living Trust would be one of the best simple ways for your father to set up his estate plan. The real estate would need to be transferred to the Trust and the documents would most certainly need to be prepared by an attorney. An Attorney who practices in the area of estate planning and tax law can also advise you as to whether your father's estate is under the applicable federal and state estate tax thresholds, which may require a more complex estate plan.
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