ADDITIONAL INFORMATION: 30 years ago my sister was given $40,000 by our father. He told me and my brother about it and told us he wanted to leave us something for our future. He said my sister would invest it and not be touched until he dies. This past January he passed and now my sister doesn’t seem to want to, or can’t discuss it she says. What can we do? ATTORNEY ANSWER BY MARGARET L.
ADDITIONAL INFORMATION: I have a family member who passed away and has left in the will that all liquid assets remain apart of the estate and has asked that they be used to establish a foundation for children in another country to pay for education. It’s a noble idea, but also it sounds like it’s going to be a big undertaking. If the names executor has too much on their plate to do it and no
ADDITIONAL INFORMATION: My father passed away leaving his children as the sole heirs in his will, but I have recently learned that a grandson in the family has greedily manipulated some notarized document claiming ownership of my fathers house and car. My father would have never knowingly signed any document giving him ownership of anything. Does a notarized document override the original Will? ATTORNEY ANSWER BY MARGARET L. CROSS: The will only governs the assets which
ADDITIONAL INFORMATION: If I give my friend money towards an investment in their name (equal to 50% of the total investment of one share of a restaurant), how can we each report this on our individual taxes? ATTORNEY ANSWER BY MARGARET L. CROSS: The income generated will be reported on the owner’s tax return. You will not own any shares. What you are doing is making a loan to a friend who in turn makes an
ADDITIONAL INFORMATION: His friend died a few years ago leaving everything to Dan (father in law) after the death unknown nephews came out looking for money and took Dan to court. His case has been continued for years now he was set to go to trial on Monday but had a systematic stroke he can’t use his left side and the Dr said he has a disk puting pressured on nerves in neck. He also is
ADDITIONAL INFORMATION: I have a friend that had her husband pass away just under a year ago. He had no will set in place. They owned several pieces of property. One my friend is currently residing in, others are open lots with valuable classic vehicles and other misc items. Upon her husband’s passing his son has forcefully taking possession of properties, only allowing step mother to remain with home. He will not allow her to step
ADDITIONAL INFORMATION: I have sole legal and primary physical custody of my daughter, her dad lives in another state. Our court order says I have the exclusive rights to file her as a dependent on my taxes, and file for her dividend every year. He knew about the court order and still claimed her on his taxes and filed for her PFD. How do I enforce the court order? ATTORNEY ANSWER BY MARGARET L. CROSS: You
ADDITIONAL INFORMATION: The Nursing Home that my Deceased Dad was in after having a sudden stroke is trying to get a judgement against me stating that I was his POA & I should not have accepted yrly checks from him for my two children & myself. I did not sign any papers stating that I would be responsible. Their claims are that even though my dad was in good health taking care of his own home
ADDITIONAL INFORMATION: I am sole heir in my Mothers revocable trust. She died in 2016, I sold her house in 2016. Will I have taxes to pay? ATTORNEY ANSWER BY MARGARET L. CROSS: Upon your mother’s death, the home receives a step up in basis to fair market value. By placing and selling the home on the market soon after your mother’s death, the basis will be presumed to be the selling price. You should consult
ADDITIONAL INFORMATION: I heard from a neighbor but can’t confirm that Medicaid’s five year “look back” for assets that can be applied to nursing home expenses is cut back to two years if a family member lives in the house and acts as caretaker. If so, do they have to be living there for two years before the reduced look back takes effect? Or does it take effect right away? Thanks! ATTORNEY ANSWER BY MARGARET L.
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