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I am considering liquidating my fixed assets and giving the money to my 4 adult children. What are the tax ramifications?
Douglas's answer
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Answered on November 28, 2012
From an estate tax standpoint, there is no reason to give away your assets. There is no estate tax in Alabama and your estate is below the Federal...
Archived
My mother currently has conservatorship over my mentally incompetent brother. How can that status be removed?
Douglas's answer
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Answered on November 26, 2012
You would have to have grounds and proof that the Conservator was mismananging the funds and request that the court remove her. She shoudl be...
Archived
Why must a will be probated and aproximate cost to do so
Douglas's answer
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Answered on November 25, 2012
If your mother had any assets or property in her name, you need to probate the will to get that property into your name. You should also be aware...
Archived
How do I get a copy of my deceased mother's medical records from California without being the executor of her estate?
Douglas's answer
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Answered on November 22, 2012
To get the medical records you will probably have to file am estate and request them as the Personal Representative of the estate. The death...
Archived
My grandmother passed away and left some money from life insurance to me and my brother?
do we have to claim on taxes in AL?
Douglas's answer
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Answered on November 21, 2012
I agree with Mr. Fortenberry's answer. Only if your aunt's estate was over $5m would there be any estate tax due to the IRS. Alabama does not...
Archived
My wifes father passed away and he has a tattoo shop not listed in the will its only her and her brother does she have to sell?
Douglas's answer
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Answered on November 21, 2012
If the will leaves the residue (after the bequest of the house to the brother) to the two of them equally, then the two heirs can decide how to...
Archived
My aunt has a neice by marriage who has POA over her and everypart of her money and property.
Douglas's answer
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Answered on November 21, 2012
If you think there is exploitation of her assets, you can report that to the Department of Human Resources to investigate. You could also apply to...
Archived
My father in law passed away and left his wife with a motgage does she have to tell the mortgage company?
Douglas's answer
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Answered on November 21, 2012
There is no jail time, however, the mortgage must be paid or she could be facing foreclosure and would lose the house. If she was in the military...
Archived
I had a child from an affair. The father has since passed away several years ago. Can I seek
To obtain anything from his estat
Douglas's answer
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Answered on November 09, 2012
The answer will depend on whether the father had a will. If he had a will leaving him out, your son woudl have a hard time getting anything from...
Archived
How long are banks required to keep copies of checks and deposites? Thank you.
Douglas's answer
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Answered on November 05, 2012
The banks should have te records however they may charge you to get them. You can ask the bank and see their policy on keeping records and charging...