If it's a rental property or has any kind of potential liability associated with it, consider use of a Limited Liability Company. It adds expense...

You will need to file a gift tax return reporting the gifts. The amount in excess of $15,000 per person will use up part of your $11.2 million...

Actually, Florida is not a community property state.

Should I take my name off mortgage?

Unfortunately, you can take your name off the mortgage only if the bank allows it. Typically they do not, which is why refinancing is required in...

Your question isn't entirely clear, but if I understand correctly, you are asking if your spouse has to consent to you naming beneficiaries other...

I agree with my colleagues, although I find that law enforcement agencies are reluctant to get involved in such cases, saying they are civil...

I received a $100,000 gift from a foreign individual, and the money is non-income generating, do I need to report it?

As long as it did not exceed $100,000, there are no reporting requirements. Otherwise you must file IRS Form 3520.

What are the tax implications of a U.S. person inheriting from a non-U.S. person?

You are required to file IRS Form 3520 to report distributions from an estate in excess of $100,000. You are only taxed on any income (not...

How can i legally control the finances of my 90 year old mother with dementia ?

I agree with my colleagues, but would add that the first step is to see if you can get her physician to sign an affidavit stating that in his/her...

He/she can make the request, but does not have the power to terminate unless expressly granted in the trust agreement. It sounds like the...