Providence, RI
Tax Lawyer at Providence, RI
Practice Areas: Tax, Estate Planning
Generally, the guardian gets to make many of the decisions. But, if the conservitor has financial powers, then you may be forced to seek a ruling...
The durable POA is good for certain things, but your grandmother may need a guardian appointed. Since your grandmother is currently living in TN,...
You have asked 2 different questions. The answer to the first question - whether you are obligated to pay taxes on forgiven debt - is generally...
I agree that you need to consult an expereinced tax attorney as soon as possible.
Your instincts are generally correct. The reason for keeping bank accounts and the ownership of other asset separate is in case the IRS tries to...
Assuming that you are personally liable for your debt (i.e. it is recourse debt), then a deed in lieu of foreclosure is treated for tax purposes as...
Regarding your federal taxes, there is a strong chance that you are responsible. If the IRS determines that you are a "responsible person", you...
The previous answer is certainly correct. I would also add that in the event you miss a payment on your installment agreement or otherwise...
When completing IRS Form SS-4 to obtain a Taxpayer Identification Number, you need to indicate the type of trust. Have you engaged an attorney to...
Without actually reviewing the terms of the trust, it is not possible to provide a detailed answer. Whether or not the trust is revocable or...
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