What texes etc will we incur for buying my in laws house for $80k. It's worth $170k.

a "bargain sale" of your in-laws' residence to you is technically a gift for the amount of the discount. If your in-laws elect to "jointly gift"...

I have a question for wills and estate planning please?

each asset does not have to be stated separately - they can split the estate equally. Whether and how the grandchildren are provided for depends...

Does divorce decree take precedence over federal law when it comes to claiming dependents?

you need to consult with a local tax attorney or cpa to review your decree and the rights of the parents with respect to the children. After doing...

i agree with counsel's reply above, however, in the event that your family member is not a good candidate for one of the IRS' programs (ie.,...

i am changing the category of this question because there are a number of issues implied here - between contractual and immigration and that tax...

Whether someone enters a nursing home does not impact the deed - it is the death of one of you which would impact the deed. How it is impacted...

Should the word bloodline trust be entered on the title or in the Will?

what you decide to name a trust is irrelevant compared to how structure the trust document and specifically define the rights and obligations of...

I have one son and I'm making him the 100% beneficiary of my life insurance policy. Do I need to give the Life Insurance Co his

The answer is yes - in the event you pass away and a distribution is to be made, the Insurance company has to file an information return (1099-R)...

Brother and sister both owned the house. The sister passed intestate with 1 adult child. brother wants to claim his share.

Look at the title to see of he deed is as "tenants-in-common" or with "rights of survivorship". If the former, then by laws of intestacy, the...

Can IRS put a lien on my home (title/taxes in my name only and property taxes are in my name) if my spouse owes the IRS?

being that you reside in a community property state, unfortunately the answer is yes.