My father has stage 4 Cancer and he has decided to not take treatment. While I know miracles can happen, the doctors told him he has a few months and I want to get this all sorted out.
Bear with me as I’m not smart with this kind of stuff. From what I understand, he bought this place back in the 80’s for under 20k dollars and now it’s worth around 200k. The only thing that he owes on this house is a home equity loan, but the loan has life insurance on it. He told me that he has me in his Will receiving everything including the house and we’d like to somehow get out of paying a ton of inheritance tax on this place.
Can someone give me a step by step process on how to go about this? Do I just get ahold of a lawyer and do a deed transfer while he’s living? Any help is appreciated… Thanks.
Submitted October 17, 2021 at 10:59AM by ChubRub68 https://ift.tt/3n4kV5w
