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My brother and I inherited our father's estate. It is mostly in stocks. My brother wants to keep and divide the stocks between
William's answer
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Answered on March 17, 2014
I agree with Mr. Brophy. From an income tax perspective, if the assets, or any portion are in an IRA or other retirement account, there will be a...
Archived
My husband just died and the house was in his name only and i was married with a son 17years what happens to the house now?
William's answer
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Answered on March 15, 2014
First, call an estates attorney and schedule an appointment. If husband left a Will and you have the original or a copy, bring that and a copy of...
Archived
Inherited 401k with no will. Can the tax burden be paid by the Estate or does it have to be declared as Income by heirs?
William's answer
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Answered on March 15, 2014
The personal representative should request that the 401k be converted to an inherited IRA owned by the estate. Assuming it's not beyond September...
Archived
My mom passed in 8/2013, she had a saving account to pay for her funeral, My brother took the cash out w/out telling us.
William's answer
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Answered on March 14, 2014
When did he take the money, Before her death? Was his name on the account? Is there an estate filed with register of wills? Who is executor? In...
Archived
My Husband's Mother passed away in NY. We received a ck marked Inheritance and want to know if we must pay PA tax on the money.
William's answer
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Answered on March 14, 2014
If assets not in PA Then no Pa inheritance tax. No Pa. Income tax or fed inc. Tax unless the money came frm Pre-tax retirement account.
Archived
I helped my child's mother with a car that's all in my name including insurance , registration and title. Do I have rights ?
William's answer
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Answered on March 14, 2014
You either give someone a gift or not. If it's in her name it's hers. If you know child neglect is occurring and have proof you should consult with...
Can someone forbid someone to tend their funeral when they die?
William's answer
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Answered on March 14, 2014
Yes you can make your wishes known to the funeral director and family and friends. Whether it will be enforced is up to those in charge of the...
Archived
Brother did power of attorney with out my consent my father has dementia need help everthing is in his name
William's answer
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Answered on March 14, 2014
The question raises three distinct issues. If father is not able to make the decision or grant the authority for a person to act in his place while...
Archived
For tax purposes, how to handle deceased uncle's interest that was escheated over the past 15 years and just recovered.
William's answer
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Answered on March 13, 2014
Contact the lawyer who settled Lora's estate and tell him the problem. That asset is going to have to be run through 3 estates and inheritance tax...
Archived
What is considered a reasonable search for heirs to an estate?
William's answer
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Answered on March 13, 2014
The personal representative has an obligation to ascertain the identity of heirs at law and send them a notice of beneficial interest within 90...
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