In my business of arranging loans to trusts and estates, I pay off a significant number of reverse mortgages. As more seniors turn to reverse mortgages, surviving spouses or adult children become overwhelmed when one or both of their parents eventually dies. When a reverse mortgage borrower dies, the loan becomes due and payable; and, […]
By Ruben Gutierrez As a real estate appraiser specializing in valuations for estate administration, taxation, probate, and litigation support I have had the opportunity to work on numerous land valuation assignments over the past thirty plus years. Most of these assignments involve land located in the Antelope Valley portion of northern Los Angeles County. The Antelope […]
In California, understanding the Foreign Investment in Real Property Tax Act (FIRPTA) of 1980 can be helpful for professionals in the industry. The IRS provides a comprehensive, yet concise, summary of the act, and includes the following information. You’ll never have a question again!
Professional fiduciaries can save a family an immense amount of money through careful estate planning. A common strategy to prevent a property tax reassessment event, and the resultant higher property tax, is for a third-party lender to loan money directly to a trust or estate prior to distribution.