Hinsdale, NY Estate Planning Law Firms & Lawyers

You need to have counsel review the deed and chain of title to see what rights if any you have. If possible you should to consult with an attorney in the county where the property is located. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.

There is very little likelihood of having any tax implications on an inheritance. In fact, its better to inherit property in many cases because the beneficiary gets to avoid potential capital gains taxes in the future. A simple will is probably all you need. But you could do a trust and avoid a probate when you pass away. But, a simple will would cost about $500 and you can do it and forget about it. And a trust will be about $1750, and will take some maintenance over the years. However, the trust will avoid a probate after you die, and the probate can be $2,500 to $3,500 or so. BUT, of course you don't pay for the probate. So the question is whether you want to pay out of your pocket more now so that the person who inherits your property can avoid a probate. Or whether you just want to do a will and forget about it and let them deal with it themselves later.