Tag: inherited home
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Be Ready. The Great Generational Deed Transfer Comes With Some Extra Baggage
The earliest-born boomers are reaching their 80s this year. And, inevitably, many of their deeds are poised to move to younger generations. Along with those deeds, the beach-themed garden gnomes are coming, too. Yes, the vast majority of real estate inheritances come loaded with stuff. Here’s how to plan ahead for this scenario.
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Older Adults Are Holding Record Amounts of Home Equity. Can Their Heirs Afford to Keep It?
Older adults are poised to pass along roughly $19 trillion in home equity over the next two decades. But the wealth is unevenly held. Many seniors struggle to preserve the equity they have. And even if they can, will their heirs be able to do the same? More than a fourth of homeowners aged 65+…
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Your Child Will Be Your Successor in Interest. What Does This Mean?
A successor in interest may be the person who inherits your home or otherwise receives an ownership interest from you. It’s a person who takes on the rights and responsibilities connected with the deed. In short: A “successor in interest” is someone who acquires an ownership interest from another party. Your child would also be…
