As a beneficiary to an irrevocable Survivors Trust, how can i avoid the tax on a distribution of $10,000?

A gift or inheritance is not income to the beneficiary and therefore not subject to income tax. There is no death tax in California. If your...

How is a probate distribution held up because of a pending action in another court.

Your reference to a "notice of pending action" or "lis pendens" suggesst the probable probate estate includes ir claims real property to which...

I am sole beneficiary on life insurance.Upon claim was told its void due to being marked trust not individual.is this correct?

The distribution of insurance proceeds is determined by the contract between the owner of the policy and the insurance company. This part of the...

Trust Question

When a trust is created there are three positions: (1) trustor/settlor, the person who creates the trust and usually funds it; (2) trustee, the...

The question you asks actually involves two different taxes. The estate tax for which there is a $5 Million + exclusion (so you need not worry...

I'm executor of brother's estate. No probate as his financial assets didn't justify. How to respond to debt collector?

As the executor of your brother's estate, you have no personal liability for your brother's debts. No need to worry about yourself. If your...

My mom died 5 years ago and everything in her state has been settled but her house. I was wondering is there a way for me to do

The only way to get title in your and your sister's names is a formal full probate. If the real property is the only asset,you and your sister...

Do i need to hire a lawyer?

Your question refers to "estate" and a "trust." Do you know whether your "inheritance" is through a trust or a will? This makes a big difference...

How can I ensure my dad gets his share?

Your father and aunt are the legal owners of the property. If title is held by them as joint tenants with right of survivorship, the property goes...

Widowed mother passed away in 2013. How do we report transfer of real property to IRS?

It is unclear whether you are referring to income taxes or estate taxes. As your mother's estate is presumably less than $5,250,000. no federal...