zeetoronto
New Member
I am the executor of my fathers estate and I am wondering what is the best way to realize the capital assets. The will was straight forward in that the estate is to be divided up between two beneficiaries . The will did state that property did not need to be Realized at the time of death. The Only real value in the estate is the family home, which I am still living in and have lived in most of my life and would like to take over ownership of the house.
1) Can I have the Lawyer transfer the house into my name and then give the other beneficiaries his share in Cash thereby avoiding capital gains for the other beneficiary? or do I have to first transfer the Title of the house to both beneficiaries names first and then buy his share from him.
2) Can I sell the house from withing the estate and then distribute the proceeds from the estate. I.e the capital gains are paid by the estate?
3) Any Ideas of the best way to realize the capital property?
1) Can I have the Lawyer transfer the house into my name and then give the other beneficiaries his share in Cash thereby avoiding capital gains for the other beneficiary? or do I have to first transfer the Title of the house to both beneficiaries names first and then buy his share from him.
2) Can I sell the house from withing the estate and then distribute the proceeds from the estate. I.e the capital gains are paid by the estate?
3) Any Ideas of the best way to realize the capital property?
