Tax Leins
We own no property. We have tax leins. My mother owns a piece of property fee and clear that will be willed to me on her death. Our son will build a house for us on this property. If the structure is in our name, is it subject to lein by the IRS if is built on property that does not belong to us? If it can, what could a lein force us to do?
Thank you.
2 Answers from Attorneys
Re: Tax Leins
have the decedent leave the property to a spendthrift trust. Disclaimer won't work for federal tax purposes. Proposed decedent must rewrite will immediately leaving the property to a spendthrift trust with remainer to grandchild(ren).
Re: Tax Leins
Any property you own will be subject to the IRS lien. This lien creates a security interest for the IRS, which if they want to, they can foreclose and take the property. Your mother could leave the property to your son. As long as your son does not get in financial problems the property would be safe from the liens. Larry Maun 713.266.2560