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Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 3170
Experience:  Wills, Trusts, Probate & other Estate Matters
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My spouse and I will be awarded a gift from a good friend

Customer Question

My spouse and I will be awarded a gift from a good friend for approximately $1 million dollars. Who has to pay the taxes on this money and How do we set up estate and tax planning for this money...
Submitted: 2 years ago.
Category: Estate Law
Expert:  Ely replied 2 years ago.
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1) What state is this in, please?
2) Is this good friend living, or, is this gift coming from his estate ad he is deceased?
Customer: replied 2 years ago.
State of CA;;;;Yes the friend in living and is retiring from Austrian Foriegn service as a U.S. foriegn diplomat, and wants to help my husband as a good friend.. Should He write the check only in my Husband name or jointly as a have a joint account.Thank You,Terry O'Neal, MBA
Expert:  Ely replied 2 years ago.
Thank you.
Just to confirm - and to be safe - have you met this friend in person and how long have you known him?
I just want to be sure that you are not being scammed.