Say that three married couples want to invest in real estate together. They can form an LLC or limited partnership for that purpose. As always, it is wise to have a buy-sell agreement between the parties.
Imagine further that three of the spouses have 401(k)'s that they would like to invest in this new real estate venture. With the In-Marriage QDRO, each spouse can transfer some 401(k) money to the other spouse and then invest in a self-directed IRA that would purchase the real estate.
Because no one married couple owns 50% of the LLC or limited partnership, the entity can borrow money in order to purchase the real estate. The loan, ...
Read More
Record that deed! Fund that trust!
Husband and wife signed eight deeds to Furnas county real estate at the time they created a revocable living trust in 2008. The deeds, however, were not recorded and possession of the deeds was unclear from the record. Later that year, they mortgaged the real estate. They continued to pay the taxes on it and farm it.
In the 2008 trust, three of the couple's children were disinherited.
After the husband died in 2011, the wife executed a new revocable living trust that included the grandchildren of the three disinherited children as beneficiaries. But, again, no deeds were recorded.
After mom died in 2013, one son recorded the 2008 ...
Read More
A Nebraska estate owning less than $50,000 in real estate
does NOT have to be probated. And that's true even if the decedent had a will.
Neb. Rev. Stat. section 30-24,129 lays out the procedure. An affidavit needs to be filed in the register of deeds office. A certified or authenticated copy of the death certificate must be attached. Certain language must be contained in the affidavit. All persons having an interest in the estate must sign. The affidavit can't be filed until thirty days after the death of the decedent.
I can draft that affidavit for the estate and eliminate the filing of probate.
Contact me if the above facts apply to a case in which you are involved. Nebraska law doesn't ...
Read More
- « Previous Page
- 1
- …
- 15
- 16
- 17
- 18
- 19
- …
- 26
- Next Page »
