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Updated about 1 month ago on . Most recent reply

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Jen Ray
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Equity Trust held rental... Transfer apon death options?

Jen Ray
Posted

My mother holds a ET rental. I'm very familiar with ET but not the side I'm soon going to be dealing with. 

Was told I can only hold the transfered account 10 years. Also it's 50/50 account with my sister also. Adds to complicated accounting.

Trying to come up with some creative options.


Do we sell it now in the equity trust account? While she's still alive. She pay the taxes{lower tax rate than us)? 

Do we transfer it while my mother is still with us and then sell it? Or transfer it to her then sell it? 

Or keep it as a IRA then invest in something else(there is other IRA accounts we could combine)

Any trust custodians that make  holding 50/50 ownership easier than ET as if held in ET we need two ET accounts ( 1200/YR cost)

Sell it as a land contract?

Current rent is 1600/m market value 

Worth 170-190k 

Current tax bases is 60k


Anyone have suggestions...we don't need the cash (or inflated income for us) from it...but will also be holding or selling other IRAs also.

Thanks!!

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