Estate Tax-Federal Estate Tax

Jerry 71 asked:


Especially for ppl in Washington STATE. I hear that if a grown (adult) child lives at home with the parents for 2 or more yrs that the parents can quitclaim the house to the child. This would be to avoid (legally avoid) estate taxes on the house if it were willed to the kid. Thanks.

Jeff

futurecorp asked:


i was told that when you buy a propety through bank, someone would check for lien against the property you ‘re buying under closing fee. so you don;t have to be concern about that if you doing it through bank right? but if you ‘re paying full price without a loan, then you could inherit lien if you don;t check right? so in that case you should hire an lawyer to check the property for you cuz you got no one else to check for you right? do you only need to be concern about lien liability in cases like when you got no one else checking for you like the bank/lender?

Wilbert Cubbison

BlairLuvr asked:


Am in the US and no, I don’t want to give everything to charity.

Buster Kucera

I love shopping! asked:


i think my landlord over charge me in harlem nyc

Katherine Neall

tessababy992006 asked:


Also, describe and discuss at least three estate planning strategies that can be used to reduce estate taxes.

Sammie Baltazar

pintofpina asked:


My sister was the executor of our parents will.They both passed within 2 weeks of each other.she hired our parents attorney to take care of the will and to divide the money left over from their bank and sale of their estate.This all took place in California.I live in Texas.She sent me a cashiers check for 8 grand and said that was my share and that was all I could get.(I could of cared less about the money) well,about 6 months later the attorney mails me a check from his office for 13 thousand.That is suppose to be my half of the estate.my sister hates me because she claims I took HER parents money which was for her to party with.she said that she is going to report me to the IRS to make sure I pay taxes on all the money she gave me (8 g) plus the 13g the attorney sent.I understood that taxes were to of been taken out of the estate and the executor was the one who should of taken taxes out before dividing the money.She also said she has our parents paperwork and is going to report me to the IRS for every check,gift card or money,our parents sent me for birthdays and christmas for the last 5 years.My father also sent me a gift of a money order for 2g before he died,he said it was for me to spend and remember him by when I spent it.So can she report me and who is responsible for the taxes on the money from the estate?

Valerie

mar128a asked:


The checking account is still joint between father and son, and I am his surviving son. It is a Real Estate Tax Rebate Check and I have been paying all Real estate taxes since his passing.

Allison

Speedfreak asked:


Do any liberals see anything wrong with the government confiscating a majority of the wealth of those who have become financially successful (upon their death), or are they too blinded by class envy?

I thought U.S. citizens had the right to possess and hold onto their private property. When do we cut off the addicts in Congress from spending ever more of our money? Where do we draw the line?

I guess if Congress lowered the estate tax threshold to $50,000, most people would change their tune, eh? Funny how that works.

Romeo Darbonne

Scotty asked:


I would appreciate a statute if possible, thanks

Annie

ambidreamz asked:


So, this year the estate tax has been repealed and thus, no exemption exists for it either.

However, I was wondering how this law affects wealthy married couples who typically have an A-B or A-B-C trust plan.

Specifically my question is this: if one of the settlors dies this year, is there still any benefit to having a Bypass trust since there’s no more exemption to dole out? That is, everything in the Bypass trust would still go to the surviving settlor free of estate tax (because of the marital deduction), but when the surviving settlor eventually dies in a later year, what then? Would the assets in the Bypass trust actually be taxed upon the surviving settlor’s death, because there was no exemption in it?

Thanks!!

Brenton Rudisill