Uncle wants to give his property ownership to me as an inheritance. Can I give him tax free gift payments annually?

If your payments are for the property, then that is a sale not a gift. Gifts can be made and the federal law has an "annual exclusions" currently...

My dad is a veteran who collects social security. He inherited money last year, does he have to file taxes this year?

Generally inheritances are not income, but they may have an income component. An example is if mom had a $10,000 certificate of deposit the...

Who and how doe's the estate attorney get paid?

Although those that hire the attonrey are liable, if the attorney represents the estate as opposed to one of more separqte beneficiaries, most...

Do "for profit" types of nursing homes take all assets of a persons' money. Said individual reside at one for 10 years.

Whether "for profit" or not normally there is an obligation for payment unless there is a governmental benefit program. Governmental benefit...

I understand estate assets are to be valued at Fair Value, exactly what doe's that mean?

Fair market value is the amount that both a willing seller and a willing buyer would agree to. Appraisers are to determine that value. However,...

If you are the beneficiary of life insurance policy and it is payed out how does this affect you taxes.

Because there are various different taxes, the question is not clear. Estate or inheritance tax is tax on the transfer of wealth but there are...

Legal gaurdianship

The answer depends on the "legal documents" you are referring to. For example you may be able to sign legal documents related to property if a...

I am in ny but the offense in ky

It is critical that you seek the assistance of an attorney where the court is located to determine your options.

Can I form an LLC in Alabama and have a Tennessee address?

Your should not be required to be loacted in a state to organize an entity under the laws of that state, but the state may require that you have a...

Your limited liability company is governed by the law of the state where it is organized, but if the prperty is located in a different state there...