What happens when my grandmother leaves me and my mom the house

Question

she has 2 children the one is supposed 2 be payed off 10000 and the house is left 2 me and my mom do we have 2 pay anything like a inheritance tax and if i'm living in the house can she or he kick me out?

Answer 1

You really need to discuss this with your mom and grandmom and try to convince her to turn the house over to you early to prevent paying the inheritance tax. Let her go ahead and live out her life there, but prevent a lot of unnecessary gov't taxes paid.

Answer 2

if the house has been left to you and your mom then you and your mom are the owners of the house.  He has no say over who lives there.  Unless the other child contests the will then he can't throw you out. Not even your mom can throw you out if it is now legally your house. (she can get a restraining order and bar you from the property if you are abusive) However, if you are not named specifically in the will as sharing the house with your mom then you don't own the house and your mom can make you leave--you also won't owe any taxes on the house.

you'll have to check with your state to see what if any inheritance taxes are in your area.  Federal inheritance taxes usually don't kick in until you start talking about hundreds of thousands of dollars.

Answer 3

my best advice is to consult a lawyer.

if you find it pricey to consult a lawyer, visit a public lawyer.

only a good lawyer can give the best  advice for this matter.