Legal Question in Wills and Trusts in Florida
Probate,trusts,wills & estates
We own a condo and are not married and have a will but the condo is only in one person's name.If that person passes frist,all bill's are in that person's name.Is that easily transferable,taxes,insurance,etc...or am I responsible for new tax rates
2 Answers from Attorneys
Re: Probate,trusts,wills & estates
The following is not legal advice and does not create an attorney/client relationship.
Generally a will passes all property described in the will to whomever is designated in the will. As the property passses, so too do all bills and expenses. Having said that, you should have your will, power of attorney and living will prepared by an experienced attorney. It should cost around $200 for all three--a small price to pay to make sure it's done correctly.
Re: Probate,trusts,wills & estates
You specifically asked about "tax rates". If you mean homestead, the transfer of the property by the will triggers revaluation to "just value" unless one of the limited exceptions apply. From the limited facts given it does not appeear that an excpetino will apply.
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