Richard Michael Morgan's Answers

How can I receive a state and federal tax return working off the books?

Let me be blunt. Truly being paid off the books so income, and other, taxes are not reported is a form of tax evasion. Now, just because you are paid this way does not mean you have to follow this lead.To follow the law, you have two choices, one being to treat yourself as an independent contractor (as a sole proprietor) and the other is to go back to your employer and ask to be switched to employee status where tax withholding is done. You have a third option, which is a really underhanded...

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Is my sister right in saying she gets a 5% commission because she is executrix of our father's will and trust?

Basically, unless the Will states otherwise, GA law says that the Executor gets paid (taxable compensation) 2 1/2 % of all cash coming to the Estate/Executor, 2 1/2 % of cash going out of the Estate (which could be payment of expenses or distributions) and up to 3% for non-cash assets going out of the Estate. Notice that I used the term, "cash," and I also said up to 3% for non-cash distributions. Also the up to 3% for non-cash distributions will need to be approved by the Probate Court unless...

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My father recently passed leaving two annuities which my brother and I are the beneficiaries. Will the proceeds be taxable?

As Jeffrey stated, annuities come in different varieties with different tax ramifications. To the extent that it was purchased by your father with after tax funds then this is the basis in the annuity contract and it is distributed tax free, and the remainder of the annuity proceeds would be taxable. To the extent your father would have received "ordinary income" (i.e., not capital gain) from the annuity payments if he had received them when he was alive, then the same applies to you as well....

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Need general durable power of attorney for elderly parents. What should I do and what are fees?

They should seek competent legal counsel to assist them. The costs are not too significant and normally well worth it. I should also state that under GA law, we have a standardized Financial Power of Attorney form and an Advance Directive for Health Care form which you should be able to get over the internet. However, fair warning is due, we highly recommend that they seek competent counsel before undertaking self help estate planning. An ounce of proper planning up front can be worth way more...

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Can I file my fathers will not for probate in Georgia?

Yes, you are required to file the original will in the Probate Court of the GA County where your father was living (domiciled), but it can simply be filed for information purposes only and you not required to file to probate the will. As for dealing with your father's probate assets, you are not required to do this as long as you do not file for probate. As for the ability for your father's creditors to come after the non-probate assets that you received as a result of your father's death, that...

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Where would I find help to submit an equitable tax relief claim to the IRS? Would an accountant or an attorney be better?

While I sympathize with you to an extent because our complex tax system can be unfair as your situation, you need to realize that this is how the system works. You do not a right to file "married filing jointly." By signing a MFJ return, your separated wife would be taking on the responsibility of any tax liabilities related to this return, and I represented her, I would advise her not to take on such a responsibility for a spouse that she may end up divorcing. While having to file "married...

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My mother recently passed and left a will, which leaves her condo and money in the three children's names.

Since your sister is the Executor under your mother's will, she will be the one to file the will for Probate and to serve as the Executor if she agrees to serve. If she decides that she would rather not serve, then the heirs, which would be the children (you and your siblings) if your mother was not survived by a spouse, can agree to name you or another person or trust company to serve in this legal capacity. I can tell by your question that you are concerned about your status in continuing to...

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If there are only two survivors named in a will do you have to probate the will

The short answer is that life insurance policy benefits pass by beneficiary designation, so the beneficiary should contact the life insurance directly to obtain the life insurance proceeds. As for probate of an existing will, and assuming the individual lived in GA, you are not required to probate a will. However, you are required to file the will at the probate court in the county where the deceased was a domicile (resident) at the time of his death. Of course, if assets pass to the estate of...

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Does a Family Trust created before a second marriage protect the surviving children of the first wife?

Here are the general rules in this area and the best thoughts without more information, such as reviewing the actual documents involved. First, since your father seems to be in CA, this is likely a CA legal issue and I therefore CA legal counsel would be best to consider the actual issues. Second, you state that the your father's home was transferred to a trust. A very key issues are the type of trust (revocable or irrevocable) and the terms of the trust. If the trust is revocable, it has...

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Mother died with a will, she signed a notice stating she wishes to delete one grandchild from will and had it notarized

In order to legally modify a will, it must have been signed with will formalities, which generally includes two disinterested witnesses, with all signing in front of each other after the acknowledgment that the document is intended to modify/amend the will (codicil). A notary is only needed on the Attestation (Affidavit) page which everyone signs again in front of a notary, and the purpose of this document is avoid having to get a witness to sign an affidavit as part of the Petition for...

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