Legal Question in Wills and Trusts in Washington
Valuation of a life estate
This is in regards to a recent inheritance from a will. My father left his property to me subject to a life estate for his second wife. She doesn't want to live on the property but wants to sell it. I am interested on finding out how to place a monetary value on the life estate to purchase it from her with proceeds from the sale of the property. How is the value of the life estate determined?
Asked on 10/22/00, 3:52 pm
1 Answer from Attorneys
Paul B. Ward
Law Offices of Paul B. Ward
Re: Valuation of a life estate
The life estate is based on her age, and perhaps other factors, and can be calculated by an actuary. Contact a first rate CPA or life insurance agent to see if your can get the name of a good actuary.
Answered on 11/15/00, 4:56 pm
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.
