Life estate deeded in 2000
Do I have to include the value of real property on the Bond of Executor form where there was a life estate granted in 2000? Person died in 2007.
Re: Life estate deeded in 2000
No. A life estate passes outside of probate and is not included on either the bond or the inventory. However, you do need to determine whether the total value of ALL of the decedent's assets (including the life estate and other assets which pass outside of probate) exceed $1 million, which is the threshold for Massachusetts estate tax.
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