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The Water Cooler
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Death in the family and inheritance.
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<blockquote data-quote="Bravo1413" data-source="post: 3964994" data-attributes="member: 51493"><p>Just went through this. Family member lived in Nevada. No will. Took 3 years to go through probate. 1m estate left for wife and sister. If you and brother are not of retirement age, probably best if everything goes to mom (much less taxes) she can then put you and brother on land deed as co owners. When she passes, it will automatically become your property with no taxes. Most of the items on land (old cars etc.) should be listed as scrap ( pretty much no tax) We bought a house in Duncan for son and put him on as co owner. He pays all taxes and expenses and when we pass, it’s his no tax. BUT, talking to a attorney would be best. Just our experience.</p></blockquote><p></p>
[QUOTE="Bravo1413, post: 3964994, member: 51493"] Just went through this. Family member lived in Nevada. No will. Took 3 years to go through probate. 1m estate left for wife and sister. If you and brother are not of retirement age, probably best if everything goes to mom (much less taxes) she can then put you and brother on land deed as co owners. When she passes, it will automatically become your property with no taxes. Most of the items on land (old cars etc.) should be listed as scrap ( pretty much no tax) We bought a house in Duncan for son and put him on as co owner. He pays all taxes and expenses and when we pass, it’s his no tax. BUT, talking to a attorney would be best. Just our experience. [/QUOTE]
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