I'm 85 years old and want to give my real estate to my adult children now. How best handle this?

Unless the properties have a combined value of over $5,000,000 (5 million dollars) then either option you propose will not incur any gift tax. You...

My Mom died, do I need to pay for an expensive lawyer?

$250.00 is not an unreasonable hourly rate if the attorney has the experience to justify it. You should consult with other attorneys to find a fee...

Taxes

Without knowing your whole tax picture it is impossible to tell you which filing status is best for your situation. However, it may be best to...

I am a care giver in colorado, i am not sure what to do when taxes come

As a caregiver, you will not be allowed to take any deductions relating the cultivation and sale of medical marijuana. Therefore you will be taxed...

If u temporaliy rent out your main home do you have to report the income if it just equals the mortgage due?

If you rent out your primary residence you need to report the income, whether or not you had a gain or a loss on the rental income. Also, you...

Is creating an estate and probate the same thing? If I do one do I have to the other?

When a person dies, their estate is automatically created, and all assets of the person now belong to the estate. Probate is the court process for...

How do I file an ethics complaint against a probate attorney in Ohio?

I am not an Ohio attorney, so I cannot speak to any laws in Ohio. You may need to hire an attorney in your state for that. To file an ethics...

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Do I need to see a tax attorney?

When a married couple files a federal joint tax return, both spouses are jointly liability for the payment of the tax. There is a process to allow...