Mom and Dad owned a house as tenants by the entirety until Dads death last year. Mom
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Mom and Dad owned a house as tenants by the entirety until Dads death last year. Mom then transferred the house to herself as life tenant, with the remainder to her son Sonny as remainderman. Just after doing so, Mom properly executed a valid last will and testament document, in which she named Sonny and Moms only other child, Cindy, as co-equal beneficiaries of the house. Mom died later that day.
When the Mom transferred the house to herself as life tenant, why would Mom and Sonny have Present Ownership interest in the house?
Related Book For
South-Western Federal Taxation 2022 Corporations, Partnerships, Estates And Trusts
ISBN: 9780357519240
45th Edition
Authors: William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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