Questions tagged [inheritance]
for questions related to the practice of passing on property, titles, debts, rights, and obligations upon the death of an individual. Please user appropriate "Country" tag.
225
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Property inheritance with multiple siblings
Our mom passed away over 30 years ago and deeded the property to the living 9 siblings. 1 of the sibling offered to live in the house. The agreement was in place of rent, they would pay property taxes ...
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4
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Apartment from non-US parent abroad
If my non-US parent gives an apartment in my native country to me as a gift, vs I inherit this later, and then in the far future I decide to sell that apartment, when doing my US taxes at that time ...
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Parents' house repairs and siblings future inheritance
My sister and I will in the future each inherit a 50% share of our parents' house.
The house needs immediate significant repairs, amounting to tens of thousands of pounds.
I am prepared to pay the ...
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Can DWP withhold money when you receive inheritance?
My uncle (T) has been in and out of gainful employment for years, so much so he has had over 20 full-time positions by the age of (almost) 60. Inevitably he's let go, sometimes receiving redundancy ...
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Should my trust be the beneficiary of my annuities?
My home and additional acreage are in a revocable trust. I also have IRA annuities and non-qualified annuities. At this time the beneficiaries are my three adult children. At my death, I would like ...
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what to do with inheritance [closed]
I stand to inherit about $150k some time this year. I am 60 years old, divorced, retired and own my home outright. It currently is valued at approx. $500k. I owe about $3k on my car loan. I have ...
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Is a buyout of an inherited house in a trust an option?
My sister passed away and she had put her home in a trust of which I am the trustee. She had specified that the proceeds of her estate be divided in 4 equal parts — three for individuals, including me,...
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Disclaiming part of an Inheritance
Say a relative passes and leaves all of his money to two of his three children.
His original will split the estate evenly among his three kids but before he passed he had several strokes, and in a fit ...
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Inherited Roth IRA distributions and taxes
My mother died this year and I inherited her Roth IRA. I do not need the income from her account and I do not need to pay any extra taxes. I am 61 years old and I plan to be on Medicare when I turn 65....
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Under UK law, what is the effect on inheritance tax liability of giving a gift back?
Scenario: a parent gives a gift to their child, but the child later gives the gift back. The parent then dies within 7 years of the original gift being given, and the child inherits the parent's ...
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I inherited a Roth IRA less than 5 years after a conversion, can I wait then take qualified distributions?
I inherited a Roth IRA from a parent. I am a designated beneficiary but not an eligible designated beneficiary.
IRS Publication 590-B for 2022, Distributions that aren't qualified distributions, ...
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Recently my mother died - how to handle her living trust account - Does the date of trust formation change?
A few months ago, my mother died. She had a living revocable trust which reported its income to the IRS under her social security number. When she died the trust became irrevocable and I went to the ...
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Form L-8, Death in New Jersey and a TOD account
Consider the following hypothetical case. A parent (living in New Jersey) dies, in 2023, leaving all his money to his daughter, who is over 21, in the state of New Jersey. His sole assets are two ...
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Helping family member with complex rental property situation
My grandmother died 10 years ago, leaving her small house in a purely verbal will to my sister. My sister is a "poor musician" and could use the property for rental.
However, the will was ...
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Figuring out the tax basis of property inherited 15 years ago
In 2008 my father died. 15 years later I just sold the property that I inherited from him. Now I need to pay capital gains on that property, but what do I use as the tax basis?
I could just assume the ...
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