How would late 1041 filing penalties/liability affect estate & Administrator if estate is first opened 2 years after death?
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Answered on April 03, 2016
Since there is no obligation to open an estate, the penalties attributed to the late filing would be borne by the estate, not the admin personally....
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Son inherits jewelry from dad. No will. Son sells jewelry.
IRS audits him. How does he establish cost
Steven's answer
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Answered on April 03, 2016
Basis is FMV at date of death. Usually established by reporting the value on an inheritance/estate tax return (if any) or probate inventory.
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Can I assure my house will be sold by my chosen realtor in another document, other than a Will ? A holistic Will ?
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Answered on April 02, 2016
You are going to purposely die intestate? Why?
Draft a will with the instructions you wish to be carried out. I have never done this, but...
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How may I find out the correct tax form number to request a transcript for 4506-T line 6?
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Answered on April 02, 2016
An inheritance is usually not considered income but the income on the inheritance is/can be -so is this interest generated from a savings bond that...
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If all assets are jointly owned and both owners have died, do we still need to probate everything.
Steven's answer
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Answered on April 02, 2016
If everything was owned joint with right of survivorship (and I do mean everything, except maybe personal property and even that technically needs...
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Can the appointed legal guardian be both guardian to of person and estate. Or is it just one?
Steven's answer
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Answered on April 02, 2016
Yes, it is fairly common for the person who petitions to be both.
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Can I give large gifts to my relatives?
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Answered on March 29, 2016
It depends on a number of factors - the exact amount of the gifts, who exactly (number of persons) and the exact amounts. I would also need to...
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What can i do to enforce distribution of the will of my parents by my brother who is executor. I
Steven's answer
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Answered on March 29, 2016
I concur with my colleagues - you are probably a bit premature in getting upset. The inheritance tax return is due 9 months after the date of...
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As an granddaughter, how can I be named as executor of estate for my grandmothers house in Philadelphia?
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Answered on March 28, 2016
I have dealt with many estates in Philadelphia. You will need the agreement and/or renunciation (to administer) of all the children and children...
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What do i do to sell property, cannot find any deed for the house
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Answered on March 27, 2016
I defer to my FL colleague and he appears to have given you good advice. I would add that you can do a title search to pull the deed to the...