Nothing like a death to bring together an estranged family
Okiemoe, not sure or clear of the entire situation or what the land holds as far as dwellings are concerned but one thing you may what to have an attorney look into with regards to a trust, as many others have mentioned, is a QPRT or Qualified Personal Residence Trust. Not an expert as it can get confusing but basically a way to get around to paying estate/death taxes on properties worth a small fortune. My parents did set up a QPRT for their home in Hawaii for my brother and I to "inherit". This was setup about 12 years ago and the QPRT "matured" a couple years ago. Now my brother and I own the home and property and my parents technically lease the property from us. When my parents pass we will owe no taxes on it since we are the owners. THere are a lot of "rules" to follow to make the QPRT work but can be highly beneficial when valuable properties are at risk of having to be sold to pay estate taxes.
Not sure if it a QPRT works on land with no dwellings or residences on them.
www.investopedia.com
Not sure if it a QPRT works on land with no dwellings or residences on them.
Qualified Personal Residence Trust (QPRT): Overview and Example
A qualified personal residence trust (QPRT) is a type of trust that allows its creator to remove a personal home from their estate.
My uncle that Just passed was supposed to get a trust set up since the death of my grandparents. Seems that didnt happen. So far no evidence has been found. But we are still sorting papers.Okiemoe, not sure or clear of the entire situation or what the land holds as far as dwellings are concerned but one thing you may what to have an attorney look into with regards to a trust, as many others have mentioned, is a QPRT or Qualified Personal Residence Trust. Not an expert as it can get confusing but basically a way to get around to paying estate/death taxes on properties worth a small fortune. My parents did set up a QPRT for their home in Hawaii for my brother and I to "inherit". This was setup about 12 years ago and the QPRT "matured" a couple years ago. Now my brother and I own the home and property and my parents technically lease the property from us. When my parents pass we will owe no taxes on it since we are the owners. THere are a lot of "rules" to follow to make the QPRT work but can be highly beneficial when valuable properties are at risk of having to be sold to pay estate taxes.
Not sure if it a QPRT works on land with no dwellings or residences on them.
Qualified Personal Residence Trust (QPRT): Overview and Example
A qualified personal residence trust (QPRT) is a type of trust that allows its creator to remove a personal home from their estate.
If he set up a trust, the property should have been deeded to the trust and filed with a memorandum of trust. From the sound of things, your grandparents estate is likely a mess also.
a title company can also run those searches for you
Thats what it seems. But we will see soon enough.
Really? How did you find this out? Did you find them, or did they find you?
If they found you, suspect scam.
If you found them...Lawyer time.
In fact everything about this issue says "Lawyer".
Paperwork was located in the stacks and stacks we have pulled out so far. That has mentioned them. Im not even sure they are aware of his passing yet. We plan on asked a couple of lawyers for advice as we go.
Wow, this this screams lawyer time. Be careful, CYA time.
I wouldn't notify them, let the Lawyer do it. Did i say CYA
Last edited:
As we still work the houses on the farms. The only 5 firearms I ever knew my grandparents and uncle having have been located. 2x 22 rifles 1x 22 pistol 1x 410 shotgun And 1x KG-99 that my other uncle purchased pre ban. he had a machinist buddy build and add a flash hider / suppressor etc to it. The three long guns have rust issues. surprisingly the KG is in the best condition.
