Archived
Can current wife kick out his adult children who have flown in to take care of their Dad who is in final stages of cancer?
Steven's answer
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Answered on September 15, 2012
Get an estate planning attorney/elder law attorney immediately to have the prior will revoked and a new one drafted if dad is clear minded enough...
Archived
How can I reduce the value of the assets in an LLC that I control?
Steven's answer
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Answered on September 15, 2012
You are really confused and need to get with a tax/estates attorney to discuss the specifics BEFORE you take actions that actually hurt you. ...
Archived
Two brothers were left a 400,000 estate by grandfather. will states and/or. younger brother filed deed putting in his name.
Steven's answer
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Answered on September 15, 2012
Immediately retain estate litigation counsel. If the will call for a split the brother has violated the terms of the will and needs to be removed...
Archived
How much in taxes will i pay to have half of house left to me?
Steven's answer
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Answered on September 15, 2012
You are talking about gift taxes. She as donor would be subject to this tax and would have to file a Form 709. However, the good news is that she...
Archived
I am considering selling real property in New Orleans, LA that I inherited over 10 years ago what at the tax implications?
Steven's answer
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Answered on September 15, 2012
First, the gain would be $650,000 if you did not make any improvements to the house. Also, to the extent there is depreciation taken the basis...
Archived
Is a will in pennsylvania legal if the first born child is not mentioned?
Steven's answer
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Answered on September 15, 2012
Children do not have to be named in the will. So he has no real rights here. However, if you can prove that the will was the result of fraud,...
Archived
Does an underpayment for Social Security benefits from various years get included in probate assets?
Steven's answer
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Answered on September 14, 2012
It sounds like these are receivables of her estate and must be included in her estate tax return.
You should meet with an estates attorney to...
Archived
I have an LLC membership held in our trust. I'd like to move it to a CA FLP to protect the asset? Is this "doable?"
Steven's answer
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Answered on September 14, 2012
It may make sense. However, the creation and use of FLP needs to be carefully assessed. The IRS is policing this area and many FLP end up in...
Archived
I am a 55 year old Australian living in US. Upon my parents demise, am I allow to have inheritance monies transfer to the US.
Steven's answer
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Answered on September 14, 2012
Mr Sasso offers an excellent and comprehensive answer. The other part to this is that if you are receiving a signficant amount via this...
Archived
My brother and I inherited land in ND. Do we have to have an attorney to change the title? There is $15,000 rents due in Novem
Steven's answer
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Answered on September 14, 2012
You are confused and should seek assistance from an estates attorney. First, the SSI and the rent prior to her death are included in her final...
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