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If one inherits money from a trust in Pennsylvania and is
Hi, if one inherits money from a trust in Pennsylvania and is not a relative...what is the tax per cent that one must pay? Also, the benefactor died in Feb. 2015 and the money still has not been distr… read more
Lev
Lev
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Father died in 2006 and June 2006 the four children created
Father died in 2006 and June 2006 the four children created a life estate for Mom. In Sep 2013 she went into a SNF gaining Medicaid Nov 2013. We decided to sell the house in 2014 and closed 12/17/2014… read more
Lev
Lev
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OIL Royalties - My mother passed away last year and she has
OIL Royalties - My mother passed away last year and she has been receiving oil royalties all her life, in her trust the oil royalties have been willed to the 5 siblings. The executor of the estate is … read more
Lev
Lev
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how to handle sale of mothers home that was under joint tenancy
how to handle sale of mothers home that was under joint tenancy (mother and 6 siblings. deeded joint w/ survival for $1.00 in 1996. original purchase 1959 10,000. sold 2013 122,000....... cost basis p… read more
Lev
Lev
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Bachelor's Degree Equivalent
28,169 satisfied customers
I live in Georgia and my sister lives in California. We have
I live in Georgia and my sister lives in California. We have just inherited 50% each of our parent's house located in San Diego, CA. It was placed into a trust in the early 90s. Our mother passed in 1… read more
jgordosea
jgordosea
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Bachelor's Degree
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My mother outlived my father and she has named me executor
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Lev
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I am a trustee of a Irrevocable trust in my mothers behalf.
I am a trustee of a Irrevocable trust in my mother's behalf. She has died. The only asset is a house. What if any capital gains tax are the beneficiaries liable for? Thanks, Bob… read more
MequonCPA
MequonCPA
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My parents purchased a home in AZ in 1993 (their personal residence)
My parents purchased a home in AZ in 1993 (their personal residence) and placed the house in trust with them being the trustees. My father passed away in 1996. A Quit Claim deed was processed in 1998 … read more
jgordosea
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REAL ESTATE QUESTION When our Dad died in 1986, my sisters
REAL ESTATE QUESTION: When our Dad died in 1986, my sister's name was added to the deed of our Mom's house in order to avoid probate. We have just sold the house for $290K, and we understand that capi… read more
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my father passed away last year and had a living trust.He had
my father passed away last year and had a living trust.He had his house in Arizona in the trust but not the house in Illinois. We are suppose to close on the house in the next couple of weeks. There a… read more
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This is an estate law /IRS Tax question. My dad died in 2003.
This is an estate law /IRS Tax question. My dad died in 2003. His will, which went through probate under Texas Law, set up a testamentary qualified Family Trust. The trustee placed and deeded an undev… read more
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Mother passed away 3/09 and Father is living. They each had
Mother passed away 3/09 and Father is living. They each had a trust. Mom's trust has Dad as trustee after she passed. Mom's trust does not provide for any distribution to heirs, only to Dad if he need… read more
Stephen G.
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Hello. My parents had a revocable trust which had iras in it.
Hello. My parents had a revocable trust which had iras in it. My father passed away july 2008 and mother passed march 2009. I am successor trustee and had to set up a irrevocable trust with new tax ID… read more
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Five years ago my sister convinced my mother to take ...
Five years ago my sister convinced my mother to take her home out of her trust and gift it over to her. My mother is still alive, she's 88 and lives in the house with my disabled brother who is on SSD… read more
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HELLO, MY MOTHER PASSED AWAY ON 1-2-06, BOTH OUR NAMES ...
HELLO, MY MOTHER PASSED AWAY ON 1-2-06, BOTH OUR NAMES WERE ON THE DEED TO THE HOUSE WHICH IS PAID OFF, I WAS PUT ON THE DEED WITH HER 3 TO 4 YEARS PRIOR TO HER PASSING AWAY, DO I HAVE TO PAY INHERITA… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I am wondering if there is an advantage to having my
I am wondering if there is an advantage to having my name put on the title of the house I live in? The current owner is my 90 year old Mother and I'm wondering if it would make things easier in the fu… read more
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