The Tax Consequences of Selling a Home After the Death of a Spouse

Q.  My husband died last year, and I am now considering selling our home and relocating to be closer to our daughter.  I am concerned, however, about the potential tax consequences when I sell. Can you provide any information on this point? A. Yes.  The biggest concern when selling property is capital gains taxes.  A capital… Read More »

Should We Sell Mom’s Home To Pay For Her Care?

Q. Our mother is in assisted living and may need to go into a nursing home soon. To raise money for her ongoing care, we are thinking of selling her home which is now vacant. Any thoughts as to whether that makes sense? A. Well, here’s the thing: selling mom’s home may undermine her ability… Read More »

Preserving Your Parent’s Low Property Tax on Trust Distribution After Prop. 19

Q. My mom owned her home for 25 years before she recently passed. Her trust leaves it 50-50 to my brother and me.  I would like to keep the home by purchasing my brother’s interest for cash, and he is okay with that.  Is there a way that we can do this without triggering a… Read More »