My half sister has sold everything including a house. We have the same father. My dad died 8 years ago. We never saw or asked for a will. My stepmom just died two months ago. I stupidly let it go thinking once she died we would divide it 3 w...
Even if you had cause to "surcharge" the executor for misuse of the funds you may not be able to actually recover much if anything if the funds are gone - what we call a paper judgment. In any event, if you want to investigate or see if you have any remedies contact a lawyer near by the location of the probate (County where your father resided).See question
My brother and I where left the house need to help looking over mothers will and the estate
Sounds like she has passed and you need help with estate administration/probate. Search for a lawyer using the "Find a Lawyer" tab above / right.See question
4 total siblings, 3 siblings passed away in 2014. All has living children. All siblings were beneficiaries of Grandfather's life insurance who passed away April 2016. Only one living sibling is left and states that she is entitled to their shares ...
Depends on the insurance contract and beneficiary designation - the beneficiary designation could have named 4 kids "Per stirpes" or not. If it is per stirpes the deceased beneficiary (child) share would drop to the child's children. If the designation is not per stirpes (more typical on these types of forms) the designation to the deceased child would lapse (cease to exist) and go to the remaining beneficiaries or perhaps contingent beneficiaries.See question
Im 72 years old, divorced, no dependents. Balance in IRA is $122,000. I rent, no other income. Im withdrawing $900.00 monthly now.
Penalty would normally only be if you were too young - you are not too young so no early withdrawal penalty. In fact you MUST take your required minimum distribution every year (for you it is about 4,800/yr if this is your only IRA money). You must pay regular income tax on the withdrawals.See question
My mother passed in Jan 2016, I am the sole heir and Executor of her estate which consists of a house and limited assets. I believe I have to file taxes as the executor of her estate. Do I need an EIN? What specific forms do I need to file?
Estates typically need to obtain an EIN - for purposes of opening estate bank/investment accounts and filing estate income tax returns (1041). You can obtain one for no charge on the IRS website - it is quite quick and easy. However for overall advice on how to handle the probate process and tax filing you should consult with an attorney and tax pro.See question
I have lived in this house for two years after my parents died and I am ready to move on with my life. My parents did not leave the home for me but I do pay the tax on the home and other bills. The house is starting to be very costly and right now...
Sit down with an estate admin/probate attorney to get their estates sorted out. If they owned their home jointly as many married people do, the house is probably in the probate estate of your parent that died most recently therefore someone would have to be the personal representative of their estate to sell the house. The house proceeds would go to all children equally, etc.See question
Would a will devised and probated in North Carolina be valid in West Virginia?
Generally you would not have an issue but there can be various state law issues or procedures that would make having a review of your planning advantageous should you die in a different state. Although when you say "probated" that implies the person died so are you asking about "post death" probate procedures and ancillary administration or the validity of the will itself? For example if someone resides in one state and has a primary probate there, and they have real estate in another state, they need to open "ancillary probate" in the other state.See question
I am the court-appointed independent executor of my mother's estate. I recently sold the home where she had lived 40+ years for $282,500. Before I make distributions to the heirs of the estate, I need to know if the estate will owe capital gains...
More info would be needed. Usually the value of real estate would get a step up in basis to date of death value so the capital gain would normally be the sale price less the date of death value. Consult your attorney and CPA.See question
Why do you have to pay tax when your parents give you a gift? This is double taxation, because your parents already paid IRS taxes on that money. So if you do not want to pay taxes twice on the same money you should not give it to your children.
The other attorneys gave you great answers - if you are receiving the gift you don't pay gift tax (or income tax).See question
my mother had a trust. Our sister was told by a lawyer that she had to nullify the trust to sell the house and put the money from the sale in her acct. She had financial power of attorney. Now she claims my mother has a will. No one has received ...
Without knowing more about the facts and the documents involved you really can't get any meaningful answer on this website. You need to consult with a a lawyer to look things over.See question