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If a life estate state in the will that the life tenant only pays xx per month for taxes of the home and the remainderum pays any amount above that for maintenancetaxes is this a legal Life Estate?
Wiki User
∙ 16y ago
yes it is yes it is
Wiki User
∙ 16y ago
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Is 60000 inherited taxable?
The amount of taxable inheritance depends on the entire estate. If the amount of the estate that the 60,000 was inherited from is over 2 million dollars then the income is taxable. If the estate was worth less then that then there are no taxes on the estate.
What is amount in a real estate market?
amount of what?amount of what?amount of what?amount of what?
What is the duration of The Estate Agents?
Depending on the programme and degree of study, The Estate Agents lasts a different amount of time.
How do you divide an estate when two of three heirs owe money to the estate?
The value of the estate, which includes the debts owed to it as well as the debts the estate owes, is divided up into three parts. The amount those that owe the estate money receive is off-set against the debt. If there are more debts owed by the estate then it is worth, those owing money will have to pay it to the estate.
What is meant by paid to estate on insurance claims?
The amount due was paid to the legal representative of the estate of the person who died.
What is a remainderum?
I think you mean remainderman. It indicates a future fee interest after another interest has expired. In some states a life estate is created by devising or granting a life estate to one person with the fee to go to another person after the death of the life estate holder. For example: A owns property and provides in his will that the property will go to B for life and after B's death the property will go to C to be hers absolutely. C would be called the "remainderman" . . . or "remainderperson".
9 A mother left 20 of her estate to one son and 25 to another son The remaining 55000 she left to her daughter Find the amount of the estate?
A mother left 20% of her estate to one son and 25% to another son. The remaining $55,000 she left to her daughter. Find the amount of the estate:
What can you do when all heirs to an estate are willing to sell the property except for one and he is the executor of the estate?
The executor is the person responsible for the estate. That includes making sure the property is sold for a proper amount.
What is the bond amount for an estate worth 750000?
4000
How do you determine the gross amount of an estate in NJ?
Estate appraisal is a very complex area of financial law. If you are trying to determine the gross amount of an estate in NJ, it is recommended that you contact a lawyer who specializes in estates. This ensures that everything is done legally and that you get the most value.
Do executor fees reduce estate tax?
They are a cost to the estate and typically are a deduction from taxes or the total amount. Yes, they will reduce the estate tax. Consulting a CPA or tax attorney would be a good idea!
Who is responsible for mortgage on an estate foreclosure?
The estate is responsible for the mortgage.The estate is responsible for the mortgage.The estate is responsible for the mortgage.The estate is responsible for the mortgage.
