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Dad Just Passed, Best Way to Change Leases for Mom?
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h2o_rider
Posted 9/19/2016 07:12 (#5537224 - in reply to #5536189)
Subject: RE: Dad Just Passed, Best Way to Change Leases for Mom?


SW Illinois		I'm very sorry for your loss, I was in the same situation eight years ago.
I went to cash rent with my mom but to help balance her income I paid the first years cash rent in January of the following year. The next year I paid 1 1/2 years rent in that calendar year and after three years got her paid in the actual year being rented. This could be done over multiple years as well to try to help average her income. It helped her out tax wise and helped me out as well on borrowing operating money. As others have stated, work closely with your accountant.
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