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My father passed away last year. One month before he died s
My father passed away last year. One month before he died his house was sold which was in a family revocable trust so the proceeds went to the trust. I am the executor of my father's estate and an ind… read more
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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
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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
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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
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I will be receiving a distribution of $185K from my parents
I will be receiving a distribution of $185K from my parents living trust after my Mother passed in January of this year. I have two siblings who will also recieve equal distributions. I live in Califo… read more
USTaxAdvising
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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
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My father recently passed leaving nothing of value except his
My father recently passed leaving nothing of value except his home, which he and my mother, (deceased in 2009) placed in a trust in apx 2006. I am named as the trustee. When selling the home, will the… read more
Lev
Lev
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Bachelor's Degree Equivalent
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My mother died 7/4/2010 leaving nine living children. My parents
My mother died 7/4/2010 leaving nine living children. My parents had established a family trust prior to my father's death in l996. Two siblings were named as trustees by my father and the same two we… read more
MequonCPA
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I am the successor trustee for the family trust established
I am the successor trustee for the family trust established by my parents. My father died in 2009 and my mother in 2010. A stock portfolio worth $312000 was part of the trust. I have just had the asse… read more
CGCPA
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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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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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I reside in New Hampshire where there is neither a state ...
I reside in New Hampshire where there is neither a state income tax or inheritance tax. My father passed away in Pennsylvania in January of 2007. My 3 siblings live in Pa. We all contributed $15,000 t… read more
Ed Johnson
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My Father came to live with me here in Florida last year.
My Father came to live with me here in Florida last year. He has Alzeihmers disease and a degenerative spine. I am his primary care taker. My Brother and I sold his home in California and we had one b… 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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