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Column of the Week: Wills

Dear Len & Rosie,

I made a new will after my husband died ten years ago. I had five children, and my will divides my estate among them equally. Four years ago, my son Richard died. He had two children, and a wife, an awful woman named Margaret. There is no love lost between us. I want to make sure that she gets nothing when I die. Do I need a new will?

Sarah

Property Transfers and Property Tax

Dear Len & Rosie,

My father died and left some cash and the house to my mother. She is 82 years old. She has put the house in my name as well as hers. Her doctor has informed her she needs a pacemaker, and now she wants to put the house solely in my name.

I have several concerns. The first is tax purposes for me. How will this affect me and my husband's taxes for the next year? I also have other sisters and a brother who will eventually inherit part of the home. Mom's lawyer says that she is safe with just my name on the deed, but I am not sure.

Linda