Legal Question in Wills and Trusts in Oregon
leaving home to a friend when I die
What would be involved in leaving my home to a friend when I die? Do they have to pay inheritance taxes? What should I do now to make the transfer of ownership as easy as possible for both of us? Thanks lulu
1 Answer from Attorneys
Re: leaving home to a friend when I die
The best method is to make a will that leaves the house to your friend. Unless your total estate is significant, there are no inheritance taxes.
In Oregon, if your home is worth less than $90,000 and you leave other assets worth less than $40,000, then your friend will not need to probate your will. If your property is worth more, the estate will need to be probated (although this is not a particularly expensive process in Oregon unless there are problems, like heirs who want to fight about the will.)
Our office does simple wills at low cost. Please give us a call to set up a consultation.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
