It outlines how the couple will handle their finances during and after the marriage, including: Property and assets: How to divide property and assets in the event of a divorce or death Debts: How to allocate debts Spousal support: Whether and how to provide alimony Inheritance rights: How to handle inheritance rights A prenup can help protect both parties' interests, and can be an effective way to avoid court proceedings and minimize the emotional and financial toll of a divorce.

However, one man's death trap is another man's wildly popular STR.

.- there are ways to never pay tax on gains (1031, owe until death, etc)- cost segregation can in effect have RE acquired at no cost- sweat equity can produce additional return.  

Wires chewed, tenant gets electrocuted, or a fire then it's now a wrongful death, and whomever being sued.

Your estate could still go through probate to determine how the LLC and other assets are distributed.You may be able to record a "transfer on death" deed for your property so it automatically transfers to another person when you die.

Do you have their death certificates or can you confirm that?

Actually, not that far from Chicago and NO TOLLS either :)

He has lived in the duplex for the last 20 years and according to my research, you can avoid taxes on capital gains up to $500,000 if the property is sold within two years after a spouse's death.

From all the heirs I have talked to after a death, eighty percent are more annoyed they have to deal with this than excited to be passed a piece of real estate.

I do agree $100k revenue on $500k cabin seems should have positive coc, but the size ($7k allocated maint/cap ex which is unscheduled maintenance - annual fire prep has own allocation), delivered propane, expensive utilities, & expensive cleaning take their toll.