Dear Mr. Premack: Ten years ago, a good friend and I decided to go into business together. She knew a lot about real estate, and we both had good jobs with money to invest. We set up an LLC, and have used it to purchase a number of rental properties. The cash flow has been positive, and now that property values are better we may sell a few for the gains. Lately, I’ve been concerned about what would happen to my investment should either of us die. Frankly, I don’t ever want to

Dear Mr. Premack: My friend’s mother deeded her several properties years ago, while my friend was (and still is) married. The properties are free and clear of any mortgages and do not have any liens. The Special Warranty Deed states with love and affection and other good valuable consideration. Is this considered inheritance and separate property or something else? No money was ever exchanged during this transaction. My friend’s mother has since passed and my friend is concer

Dear Mr. Premack: About fifty years ago, my husband and I had reciprocal wills drawn up. About fifteen years ago, my husband received an inheritance and started making remarks about leaving his inherited property to his nephew. I have children from a previous marriage who were legally adopted by my husband, and I also have some inherited property. I want to be sure my children will inherit from me and not my husband’s nephew. To do that, I had a will drawn up leaving all of m