Question: I read your article on 724 Items, Not Counting Linens and Jewelry and found it very interesting. I have two questions: 1) Why were the jewelry, silverware, and gold coins left out of [...]
Question: My mom has a vehicle loan that’s to be paid off upon her death. She left that vehicle to me in her will. My aunt won’t let me have it. She said it’s not part of the [...]
Question: A distribution was made from the liquidation of an annuity in an estate in 2019. The estate income tax rate is 35.7% and and the beneficiary who received the distribution and therefore [...]
Question: My mother is 90 years old and in good health but never planned for leaving this earth. She is a single woman and I am her daughter. She owes $23,000 on her home and lives off of Social [...]
Question: My wife’s sister is trustee of their deceased dad’s estate which totals about $700,000. There are four equal sibling beneficiaries, including the trustee. The trustee is [...]
Traditionally, estates have been passed down by per stirpes descent. More recently, this system has been replaced by the per capita by each generation system. Only an estate planning attorney can [...]
Question: My grandmother left a trust and will when she passed. My father is in charge of the trust finances and real estate. The will states that he cannot sell the property in the trust, but he [...]
Question: If a property appraisal was never obtained when a parent died in 2013, how can we determine the cost basis when the four siblings who inherited the home sell it? Response: As you know, [...]
Everyone talks about probate and avoiding probate, but what is “probate?” And what is “probate property?” Probate is the judicial process through which property you own [...]
IRSQuestion: I am the executor of my mother’s estate, which calls for her assets to be divided between her five children. My mother’s property has been sold and all distributions will [...]
