Legal Question in Real Estate Law in New York
Real Estate Tax Exemption for widow of WWII veteran
My father, a veteran of WWII, passed away. My mother has recently worked with an attorney to plan her estate. The deed to the home they shared had been jointly held and on the advice of the attorney she re-recorded it in her name alone. Also, on the attorney's advice she executed a Revocable Living Trust in lieu of the simple Last Will and Testament she had previously.
Yesterday she received a letter from the Nassau County Dept. of Assessment saying, in part, ''it has come to our attention that a new deed containing a trust has been recorded on this property. They want a copy of the trust to see if Veteran's benefits still apply.
Is it possible that she will lose the benefit of the Tax Exemption because of this new estate plan? I will copy it and mail it to them but I am concerned about it. She and my father were married 55 years and he served over 4 years in the South Pacific as a Major in the U. S. Army receiving a Bronze star among other medals and my mother certainly deserves to reap the benefits of his service. I am hoping we didn't make a mistake by listening to the atttorney and taking his name off the deed.
Thank you.
1 Answer from Attorneys
Re: Real Estate Tax Exemption for widow of WWII veteran
The change should not create a problem for your mother, if she is your father's surviving unmarried spouse and she continues to live on the premises.
To Wit:
The ownership requirements for the alternative Veterans real property exemption is as follows:
A. The legal title to the property must be in the name of the veteran or the spouse of the veteran or both, or the unremarried surviving spouse of the veteran, The title requirement also is satisfied if the veteran, veteran's spouse, the unremarried surviving spouse, the legal life tenant of the property, or if the title has been transferred to a trust, such a person is a trustee or beneficiary of such trust. These title provisions also apply to the �eligible funds� exemption. Under certain circumstances, the exemption also may be allowed where title is in the name of the dependent parent of the veteran or his or her child who is under 21 years of age.
B. The property must be used exclusively for residential purposes. However, if a portion of the property is used for non-residential purposes, the exemption will apply only to that portion of the property that is used exclusively for residential purposes. In addition, the property for which the exemption is sought must be the primary residence of the veteran, the unremarried surviving spouse, or the Gold Star Parent unless that person is absent from the property due to medical reasons or is institutionalized.
Good luck,
Phroska L. McAlister,ESQ
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