What would the tax rate be for property sold that was accquired thourgh a trust?

It seems you are really saying that the net proceeds after expenses is $202,000. If that is what you received you then have to determine your...

My father left a house in trust that i am the successor of

It seems you are really saying that the net proceeds after expenses is $202,000. If that is what you received you then have to determine your...

My mother recently passed away what are the procedures to begin probate in the state of Pennsylvania

You need to hire an estate attorney in the county of your mother to assist in first securing her will if she had one or having you named as...

Dad gave us mechanical banks years ago. He gave each kid stuff no receipts. Younger brother now wants them part of the estate.

The prior attorney is correct here-do not be intimidated by your brother. These are your property and were gifted to you many years ago. One...

How much time is given for the executris to sign the final paers after the will has cleared ?

Generally, there is no set time for the executrix to respond to the finalized settlement agreement. Usually, getting the signatures of all...

What are examples of definitions of a gift?

Your sister is not in a strong position. If your parents have consistently given gifts to you and your siblings, this donative pattern is quite...

Will our rental property asset automatically transfer to an LLC?

In addition to your exposure for local transfer tax on this transfer, you need to also work with the estate tax planning implications. If you are...

Should I continue on my own or partner with an already established non profit organization?

Before joining forces you want to make sure that the non-profit is formed and operated correctly. You also want to make sure it has received...

Will I get in trouble with the IRS for taking mortgage interest off a house in a living trust?

First, as the other attorneys have pointed out, you are not entitled to take the interest and taxes related to the home if you are not the owner. ...

As long as the account was established over a year before death, only one-half will be subject to PA Inheritance Taxes (PIT) at a 4 1/2% rate, so...