Is it best to have a mental competency exam on 97 year old father when revoking and reassigning Power of Attorney?

The only sure way to proceed is with a guardianship. Frankly, if your father is 97 and you are raising potential issues of dementia / mental...

How to claim your pet and get income tax

Deducting pet expenses is usually something that you cannot do. However, there are a few animal related expenses you may be able to claim...

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What percent in estate tax do you pay in NJ if assets are over $675K, going to class A beneficiaries?

It is graded from 16% down to about 4% for the largest estates. Federal Estate tax picks up at a 47% effective rate after $5 million this year and...

If a home was gifted to your offspring and offspring dies, who now ownes the home when the gifter is still residing in the home?

The question is whetehr the Mom retained a life estate in the property or whether there was an agreement between Mom and Son as to occupancy of the...

I am a recipient of two monetary gifts, both checks in the amount of $10,000 paid in 2012. Do i need to pay any tax on it?

I agree with the prior attorney's answer. Transfer tax liability and reporting obligations lie with the transferor not the recipient.

Can I take a full deduction of $16,000 (property taxes) on my tax return. ex-wife & I own the house she lives in as tenincommon

You cannot deduct that amount but you can seek to have her pay her share of the taxes. If she does not want to, you can bring an action for a...

Does a settlement amount gain interest?

See an attorney who specializes in consumer protection and debt settlement immediately. You may be giving up many of your legal rights to validily...

Can two daughters (beneficiaries) be named as co-executrixes of my `Last Will and Testement' when I establish the document.

Yes. This is permissible. Depending on your estate plan, you may want an independent (non-related, non-subordinate) party to serve as fiduciary...

In NJ Is a will executor required to provide the heirs of the estate copies of bank statements, stock statements, etc

Hire a probate litigation attorney to file a petition to compel a full and formal accounting.

My mom own annuity (rai) she is in the hospital dying. she owns the money to the hospital, I am her POA. Can I sell it.

Go to an estate planning lawyer immediately. DO NOT CASH OUT THE ANNUITY UNTIL YOU SPEAK WITH A LAWYER. You may be able to avoid paying that...