My mother (divorced/single) has a property in the US and she wants to set me up as the beneficiary in her will (in the event she passes). The property is a place my family and I stay when we visit (myself, spouse, and two children). In reality, we just want to keep the property in the family and it would be fine, for example, if my children inherited as well (instead?).
I’d like to set it up with whatever situation reduces the inheritance tax burden, and allows us to keep the property (I wouldn’t want to be forced to sell if I couldn’t come up with the inheritance tax at the time, so the lower the better). The property is special to our family and neighboring plots are owned by other extended family members.
I’m thinking I will probably have to hire an international (Japan/US) estate person to help advise us, but I thought I’d also ask here for any tips, or if you can steer me in the right direction. Grateful for any insight.
by irishtwinsons