QUESTION
Is there a way to either get the property over shares or some other option so it doesn't hurt us financially when the time comes to exact her will?
Asked on Aug 28th, 2014 on Estate Planning - New York
More details to this question:
My mother owns a corporation that owns a commercial property that she would like to leave to her four children. However, receiving this property all at once would kill us in tax fees we couldn't afford. The last evaluation we had done on the property was 2010 and it was just short of $1.4 million.
1 ANSWER
Real Estate Attorney serving Garden City, NY
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You must consult with an attorney that handles estate planning matters. It shouldn't hurt you financially in taxes. You just have to have the work done properly.
Answered on Sep 01st, 2014 at 7:23 PM