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Can life estate home be rented if the parent is in a nursing home and will never return to the home?
Wiki User
∙ 15y ago
No. The life estate belongs to her as long as she is alive. If she granted a power of attorney and it is still valid, the attorney in fact could consent to a sale of the real estate or release the life estate. If there is no valid POA and the individual is not of sound mind, a petition to sell the real estate free of the life estate could be brought before the probate court.
A life estate means that someone else gets the property at her death. Who gets the property on her death? They can only sell it subject to the life estate, which reduces the value to the buyer.
Wiki User
∙ 10y ago
Wiki User
∙ 15y agoYes. However, the income from the rent may disqualify the owner from Medicaid qualification.
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Do you return or throw away a deceased parent's medical bills when they had no assets?
You should not do anything with them. The executor of the estate should make arrangements to void the debt with the provider.
If you rented your Redbox DVD at Walmart could you return your DVD at a Redbox at Walgreens?
Absolutely yes! You can rent and return any where with RedBox!
Will you need to pay estate taxes?
That will depend on the value of the estate. The executor will have to file a tax return with the IRS for the estate.
Does estate get passed to the IRS?
The estate does have to file a tax return with the IRS. It is responsible for income tax and estate taxes
Is it possible to get a tax return for real estate?
yes, it is very possible to get a return for real estate. Also, the average yearly rate for real estate taxes varies per person but can be a big sum.
Do you have to return your mouthpiece when renting at Marshall Music Co in Lansing?
Whatever was rented up front has to be returned.
Who files tax return for a deceased person?
The executor of the estate files the tax return for the deceased.
Can you rent a car in ma and returned it ny?
If you rent a car in MA you can not return it to NY. The car is insured in MA, so if you drive out of state they will track down the car and make you return it. If the car was rented from NY that is a whole different story. You can return it in NY if you rented from NY. I did not make this question up. I'm just giving you the answer. (I think this is a stupid question anyway.)
Do kid models pay taxes if with an agency?
Yes. A child's income is taxable and a parent must file a return if it exceeds a certain amount. A parent can include the income on their return or file a separate return.
If a parent leaves a child with a friend and does not return is that considered abandonment?
If the parent never returned, yes, this is abandonment. Unless something happened to the parent preventing a return that is not known yet.
Why did aunt georgiana return to Boston?
to settle an estate that was let to her
Are funeral expenses deductible?
funeral expenses are not deductible on an individuals tax return as they are not medical expenses. However, if and individual has an estate, then the costs are deductible on their estate tax return (form 1041).
