Dealing With Inheritance From Real Estate
For most people, the house they own is their greatest asset. A well-written estate plan can help the homeowner designate which family member(s) he or she would like to be beneficiaries. With proper planning, the estate plan can help reduce future tax burden and transfer the property as quickly as possible after the homeowner’s death.
Estates can easily exceed half a million dollars. With that kind of money on the table, it is wise to consult with a real estate attorney who also understands inheritance and estate planning. At the law firm of Connors and Sullivan Attorneys at Law, PLLC, our attorneys focus on estate planning, elder law and real estate, as well as tax law and tax consequences.
We handle hundreds of real estate closings every year and know how to protect the rights of beneficiaries in a real estate closing. For a complimentary initial consultation, contact our New York City law offices in Queens, Manhattan or Brooklyn by calling 718-414-6209 or 212-235-1339, or contact us via email to schedule an appointment with a qualified real estate closing attorney.
The Real Estate Closing On An Inherited Property
We have helped many families deal with a real estate closing after the death of a loved one. Our attorneys and professional staff understand that this is a difficult time for you and your family. That is why we take a close look at potential tax and closing headaches, which may create problems down the road.
A real estate closing on an inherited property is typically much more complex than a regular real estate closing. We consider the tax consequences of the sale, as well as estate taxes due to estate litigation. It is important that the distribution be accomplished in a timely manner and fairly, so we work with the trustee, estate administrator or executor to make sure that will happen. We also take care of the title transfer with due diligence to avoid future complications.
Our goal is to make a real estate closing on an inherited property as smooth as possible. We protect the property rights of the beneficiaries and consult with a CPA as needed to reduce potential estate tax burdens. For a complimentary initial consultation, call 718-414-6209 or 212-235-1339, or contact a real estate closing lawyer via email.