Post Estate Plan Completion Procedures

The most important step in completing your estate plan is funding the trust. If assets are not funded into the trust, it can not manage or take...

My brother-in-law passed. My sister needs to access the ins. trust account to handle the bills.

She will need a copy of the trust. This will tell you who the trustee and the beneficiaries are, and how the assets of the trust are to be...

Should I pay rent on my moms home going through probate.

If you are in a home that is owned by the estate, you can be required to pay rent until the estate is finally distributed. However, you are not...

Three owners of one house in Tucson AZ

You report the income and expenses on Schedule E at 100%, then you indicate on the form that you are a 1/3 owner, and you will receive 1/3 of the...

I am not working and we filed divorce.When I get my suposel support do I need to pay any tax? Tnks

Spousal support is not necessarily income. You and your ex can decide who will be taxed on the income by agreement. This should have occurred in...

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Estates and distribution of income

A Form K-1 should be issued to the beneficiary that indicates what needs to be reported on their form 1040. This will tell you what you need to...

May a power of attorney award monetary gifts (IRS max) to the children of a parent permanently in a nursing home?

The power of attorney itself is the document that would grant this power. The actual document should be reviewed by a local attorney to determine...

Does marrying an illegal affect my income tax return?

This is not true. You need to seek the help of a tax professional to help you file your tax return and get the paperwork correctly done. Any...

We just discovered that a home once occupied by my husband (but in his parents name) and later rented was not included on taxes.

I agree with the other attorneys. The way to correct an incorrect tax filing is to file amended tax returns to correct the filings. This is...

The City of Philadelphia seeks collect taxes and penalties nine years old

Persistence pays off in a situation like this. A face to face visit is also helpful. Once something gets this old, most cities do not have good...