Graeagle, CA Estate Planning Law Firms & Lawyers

If you receive the real property as a gift before your grandmother passes your basis in the property will be the basis your grandmother had in the property. If she held the property for a long time the basis may be very low. If you receive the property in a distribution from her Will or Trust after your grandmother dies, then your basis in the property will be the value at your grandmother's date of death (or the value at the elected alternate date 6 months later). When you sell the property you will be taxed on the capital gain which would be the difference between the basis in the property and the sale price, after costs of sale. It is likely that the capital gain, and thus the capital gain tax will be higher if you receive the real property in a gift before death as opposed to from her estate or trust after her death. There are other factors that can affect basis in property. You should consult with an attorney or accountant about such matters.

Petition the court for a guardianship and conservatorship based on the fact that your mother is subject to undue influence. Will a doctor support that? That will be necessary. Preferably her doctor.