Posted on 11/05/2021 8:56:44 PM PDT by the OlLine Rebel
open and notorious also
You could have your mom draw up a trust, with you as the trustee. Everything goes into the trust and you are responsible for distributing items from the trust to the beneficiaries. It takes about 6 weeks to do that, and then I believe the trust is dissolved if you want.
There is no bigger "break" in the tax code than the ability to inherit the home at your folks' original (or...refinanced) basis. Therefore, there is no bigger mistake you can make than to change the titling on the house or execute some sort of too-smart-by-half maneuver "to get it into your (or another heir's) name". You don't have to do anything to transfer title to the lawful heirs, as long as the house is included in her will. Included in her will and accompanied by a certified copy of her death certificate, title transfer is a low cost, routine clerical matter.
You may have to do an eviction once you (and/or you co-heir) properly obtain title. An eviction is not pleasant but it is not difficult and should cost well under $500.
Any discussion you have with a lawyer is privileged. They will not turn you in. Even if the insurance company found out the maid was using a false address, that does not make your mom guilty of fraud. Unless your mom signed a fake lease/renters agreement, it is the maid committing fraud. Go speak with a lawyer.
Your post is confusing, if the maid is living there, then it is her home address, thus not insurance fraud. If she isn’t living there, and just using the address for cheaper insurance, she is the one committing insurance fraud, not your mom. If she is living there and still working for your mom, terminate her employment and ask her to move out. There are plenty of maid services out there.
Your post is confusing, if the maid is living there, then it is her home address, thus not insurance fraud. If she isn’t living there, and just using the address for cheaper insurance, she is the one committing insurance fraud, not your mom. If she is living there and still working for your mom, terminate her employment and ask her to move out. There are plenty of maid services out there.
That means, if they bought the house 30 years ago for $30K and it is now worth $100K, you inherit it at a value of $100K. Thus if you should sell it for $100K, you owe no taxes because you "bought" it for $100K and sold it for $100K.
If the nominal tax rate in your state is roughly 1/3rd, you would owe 1/3 of $70K or $23.3K if you execute some sort of sale before she passes. There is no need whatsoever to incur this tax hit.
The issue of defrauding the insurance company may never come into play relative to title to the home. Hopefully, she never made a claim.
She never lived in the home and the evidence will show she had her own residence.
Through legal counsel, you may want to put the property in a family trust. Get title insurance and that should solve your concerns.
Simple: Buy a biohazard suit lookalike, send your cousin home to the house hacking & wheezing, fresh out of the sauna (sweating like a pig), if they’re home have him put on a conniption display while ripping off the suit, scare them out of the house, change the locks, put their crap on the curb.
My Parents did a Living Trust and when Dad Passed Away EVERYTHING Transferred over to Mom: House and Land, All Insurance, All Banking and Credit Union stuff, Vehicles, etc.
There was a Ring Binder setup by the Lawyer and all We had to do was show the applicable pages to whoever was on the other side of the counter or desk and the transfer was done within a few minutes.
For example Mom gave Me Dads car and the land (a single Lot approximately .5 acre) and it took place at the County Tax Office in a few minutes, filling out forms and Signatures. Done, no fees or transfer costs.
The House and that Land went right over to Mom.
The Bank and Credit Union was done in a few minutes as well.
Utilities, just a phone call and a fax or two. Done.
This was in Texas but I don’t think it makes much difference where one is located.
I hope that this information is helpful to You.
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What Is a Living Trust?
A living trust provides lifetime and after-death property management. If you are serving as your own trustee, the trust instrument will provide for a successor upon your death or incapacity. Court intervention is not required.
Livings trusts also are used to manage property. If a person is disabled by accident or illness, the successor trustee can manage the trust property. As a result, the expense, publicity, and inconvenience of court-supervised distribution of your estate can be avoided.
If a living trust is properly written and funded you can:
Avoid probate on your assets
Plan for the possibility of your own incapacity
Control what happens to your property after you are gone
Use it for any size estate; and
Prevent your financial affairs from becoming a matter of public record
I almost forgot to tell You this.
Land and Buildings on it can be Transferred with what is called a Quit Claim. One or two pages of information and Signatures. Done deal no transfer fees or sales taxes.
Have your mother put the house into a trust with a trusted person as successor trustee.
If JTWROS (survivorship), the “other person” will own half.
Excellent advice.
Talk to neighbors & mom to find out true situation.
Sorry if it is confusing, but I did post this:
‘One thing I’m thinking could help is that my cousin actually lives in the house, and has for that long as well, whereas she is “fake”.’
I think I confused people by writing that all her “things” are showing up. I should’ve SPECIFIED: MAIL.
No, she doesn’t send objects over or any such thing. It’s mail that comes - not just car insurance, but other things. I don’t know if she has this as her official DL address or not! And some mail is coming for her daughter (who used to live with her).
I am VERY WELL aware of the situation - as stated, it’s a long, long story. Known this woman for 35 years. Know where she came from. Know what my parents have done for her and what my mom pays her, etc. I know alot. Not all, obviously (like to peek at that DL), but a good deal. My ma only lives 10 min away.
I was trying to keep this short so people don’t snooze and ignore! Trust me, this could be an entire long article. My ma is stubbornly loyal and is under the spell of this woman - who isn’t the worst, but not as fantastic as my mom loves to believe. (My brother thinks she’s like ma’s “mammy” and ma is living her southern-belle fantasy! LOL)
Thank you for your input (as I do all here - I guess keeping it short helped) as it is, but she does not live there; never has.
What is that letter salad?
LGBTQ.....?
"Hostile" is a necessary requirement under adverse possession. Invitation by employment extinguishes that requirement.
It]f it’s been 20 years, I wonder if adverse possession laws might come into play?
You need an attorney and a good one. Quick.
It]f it’s been 20 years, I wonder if adverse possession laws might come into play?
You need an attorney and a good one. Quick.
Why not just redirect their mail via USPS change-of-address, back to where it belongs? Then the next weekend change the damn locks.
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