George Campbell
speaker
119,665 appearances
463 recordings
1 series
first heard Apr 2022
last heard 3d ago
George Campbell’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 32 in all, peaking in Sep 2026 with 12.
Appearances
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Lisa, how can we help today?
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What's causing them to ask you to pay off their home?
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Why didn't they want to do a will?
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I imagine they ha they have other assets in their estate outside of this house, right?
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There's other accounts.
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here's the big thing.
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You don't get it you
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Yeah, if they deed it to you while they're alive, it's one of the worst things you can do financially because it's considered a gift, not inheritance.
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And so the original cost basis would carry over.
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So if they paid a hundred thousand dollars for this house and it's now worth five hundred thousand, when you go to sell that house, you're gonna owe on the difference.
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But if they just pass away, you inherit the house, then you get a step up in basis, meaning it's fair market value at the time of their death.
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basically you could sell it without any taxes if you inherit it within, let's say, six months after they pass.
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But if you get it deeded over to you, you're gonna carry over what they paid for it as a basis.
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And
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off the mortgage or not, the best way to do this is to inherit it.
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And in some states, I'm not sure what North Carolina law is, but if you can uh set up a transfer on death for that house, then it'll avoid probate.
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And same thing for any bank accounts.
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There you go.
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A bank account would be payable on death, POD.
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Showing 2601–2620 of 119,665 · page 131 of 5984
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