Legal Question in Wills and Trusts in Pennsylvania

When my father passes away ,will his home be considered an asset

my father signed over his house to me april-16-05,when i moved in with him after my mothers death. he has a mortgage on it for another 3 years, i have been paying all the mortgages payments,all the homeowners ins and all the taxes on the home. the problem is the house is still in his name. now he owes the irs some money which he has faithfully been paying his monthly installments tho. are they gonna consider this home an asset to collect the monies due them after his death. our paper was not done by an attorney it was written by him and signed by us and noterized. am i waisting my time and money?


Asked on 4/25/06, 9:07 am

1 Answer from Attorneys
Marc V. Taiani AAAL - Allegheny Attorneys At Law

Re: When my father passes away ,will his home be considered an asset

You will need an estate attorney and a settlement company to help you resolve this situation. The easiest way to resolve this matter is to have your father sell you the house outright for a fair market price. Contact my office and I can help you through this process. By waiting you guarantee additional liens being placed on the property.

Sincerely,

Marc V. Taiani, Esquire

AAAL - Allegheny Attorneys At Law, PC

412.731.0865 (Office)

www.AlleghenyAttorneys.com

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Answered on 4/25/06, 4:05 pm


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