• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Carve out an estate tax exception

by on
in Small Business Tax,Small Business Tax Deduction Strategies

Q. My brother and I own real estate jointly, but he made the down payment. Will the property be included in my estate if I die first? Las Vegas

A. Not necessarily. Assuming you own the property as joint tenants with rights of survivorship (JTWROS), it would normally be included in the estate of the first one to die. However, there’s an exception to this JTWROS rule if it can be proven that part or all of the payment for acquiring the property was provided by the other joint tenant.

Tip: Make sure you can document that your brother paid the full down payment.

Like what you've read? ...Republish it and share great business tips!

Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/34117/carve-out-an-estate-tax-exception "

Leave a Comment