Question: I inherited lake shore property (vacant land–no house) that I am now selling. How do I figure the capital gains on the sale? Response: The capital gain will be the difference [...]

Question: We recently sold my father’s home which was in a trust. My sister lived with my father from the 1990 until my father died in 2005, and continued to live at the property until 2022 [...]

Question: I’m the executor for my father’s trust and he passed away July 3 of this year. One of the things he has in his portfolio is some Allspring Global stock, and I’m wondering if I should [...]

Question: My fiancé sold a property in Florida back in 2018. He was away in the military until this year and now that I’m doing our taxes, I’m worried that it will become an issue as [...]

Question: I am the Trustee of my father’s irrevocable living trust in Illinois. He was remarried and took my advice and set up a living trust and will, so he could pass certain assets on to [...]

Question: I am the executor of an estate. There are stocks in the estate but the estate totals $1.8 million, thus under the federal estate tax threshold. The stock value at time of death in May [...]

Question: I am a beneficiary in a nominee trust of a house and have a question about capital gains taxes. My parents bought the house in 1970, and set the trust up in 1990 for my 3 siblings and [...]

Charitable remainder trusts are a charitable planning option which permit more flexibility and control than charitable annuities. The architecture of these trusts is as follows: the trust grantor [...]