What is the name of your state (only U.S. law)? Pa
My Wife and I are willed A Farm from her mother (father desceased) What we want to know are fair and legal method to transfer ownership to us with securing her life tenancy rights beside joint ownership with survivorship. With that her mothers issues (age 84) issues are her liability from grandchildren, place to live and have say so on her house. Life Tenancy isnt a issue as we want to build a house on another site on the farm, but we want to make Improvements and have no suitable solutions to make her comfortable. Since JOWSR doesnt do it, what are the other options we could persue.
Inherentance tax is also a convern. Does Lifetime inherithence exemtions apply to real estate:
My Wife and I are willed A Farm from her mother (father desceased) What we want to know are fair and legal method to transfer ownership to us with securing her life tenancy rights beside joint ownership with survivorship. With that her mothers issues (age 84) issues are her liability from grandchildren, place to live and have say so on her house. Life Tenancy isnt a issue as we want to build a house on another site on the farm, but we want to make Improvements and have no suitable solutions to make her comfortable. Since JOWSR doesnt do it, what are the other options we could persue.
Inherentance tax is also a convern. Does Lifetime inherithence exemtions apply to real estate: