Inheriting a home through a trust can bring up a lot of questions, especially when it comes to taxes and timing. Many beneficiaries don’t realize that when a property is inherited through a trust, its value is usually “stepped up” to the fair market value as of the date of death. That means if the home is sold shortly after often within a year the sale may result in little to no taxable gain. In some cases, after real estate commissions and closing costs, it may even show a loss on paper. Howeve
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a house with one, two, three mortgages can still go inside of a trust. If your name is on the deed to the home, you own the home, and it can go inside of a trust. It does not, however, relieve you from the obligation, legal obligation, to pay back that mortgage there are plenty of good reasons for putting homes with mortgages on them inside of a trust. The biggest one, avoiding probate, and giving you control over what happens to the Home after you’re gone. #Mortgage #Lien #ReverseMortgage #Esta
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