What Is a Community Property Trust?

“There are two very different kinds of property ownership law for married couples in the United States: common law and community property law.”

When Do I File a Tax Return for an Estate?

“My 91-year-old mother-in-law died on Dec. 13, 2020. There was no Will, so we are currently working our way through the probate process. Her income was less than $20,000 a year from Social Security and we can’t find any tax returns she filed. Was she required to file?”

Would a Life Estate Have an Impact on Taxes on an Inherited Home?

“My mother died this year, and when my sister and I went to sell her home, we found out that without our knowledge, our mom had put us on the title as joint owners, even though neither of us had put any money into the purchase of the home some 30 years ago. Are we now on the hook for taxes on the gain in house value?”

How Joint Tenancy Creates Problem for Seniors

“As parents age, families sometimes struggle with how to best keep their parents’ financial affairs in order. One common approach is for aging parents to put one or more of their children on their investment accounts, bank accounts, and real property.”

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