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How can a reverse mortgage lower estate taxes?
The full value of a home owned outright is subject to estate tax, but a reverse mortgage against the property reduces its value thus lowering any applicable estate tax.
A reverse mortgage is a lien against the property that must be repaid when the borrower permanently leaves the property. At death, the full value of the property would not be included in estate valuation for tax purposes.
The debt would effectively reduce the property value and lower estate taxation.
Eben
How can a reverse mortgage lower estate taxes?
The full value of a home owned outright is subject to estate tax, but a reverse mortgage against the property reduces its value thus lowering any applicable estate tax.
A reverse mortgage is a lien against the property that must be repaid when the borrower permanently leaves the property. At death, the full value of the property would not be included in estate valuation for tax purposes.
The debt would effectively reduce the property value and lower estate taxation.
Eben
posted by www.mireverse.com at 6:59 AM
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