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Watson Gan's Advice

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Watson Gan wrote:

My father died 2 years ago. My mother is also deceased. My brother and I are the successor trustees

Answer
Sorry to hear that both your parents are gone. Trust that they left a legacy, more than just a property for you both.For that, try to understand the value of the property. For that, I don't mean just a Zestimate.Then, know your options. Keep, sell, trade, lease, buy-out... These are the most common choices I see all over.Also talk with a qualified, competent tax professional abut your options. Many people hold on to mom & dad's property as a memory. But you should consider making their hard-earned money, or property as a legacy. Many people can turn those property into liquid cash for better return, or invest in education, purchasing a better home, investment properties, children's tuition, etc which will bless far more than just keeping it.
August 07 2012
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