6 posts tagged with inheritance and gift.
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How should my Dad leave us the proceeds from the sale of his land?

My Dad owns about 20 acres of land in a small town that he wishes to give to my brother, my sister, and myself now, not when he passes. My siblings and I plan to split the proceeds of the sale of the land evenly amongst us. Which way, tax-wise, would maximize the amount of money we receive from the land in the end? Should my dad give the title/deed to us first and we sell it, or Dad sells it and then gives us the money from the sale of the land? [more inside]
posted by Gmbee on Sep 28, 2014 - 15 answers

How to protect an inheritance/gift from taxation?

My dad passed away this year and my mom has very generously decided to gift the house to my sister and I rather than. The house is in Canada, I live in the U.S. (Permanent residence). My sister and brother in law bought my half of the house when the mortgage was due (approximately April 1st) so I now suddenly have a 6 digit lump sum of cash in a Canadian account. I have not signed anything yet. I want to protect this from taxation, I also don't want to jeopardize my permanent residence status or potential citizenship. I know I need a lawyer, but what kind and how do I find a good one? I am in Wisconsin, particularly Eau Claire since that's probably important.
posted by substrate on Apr 23, 2010 - 13 answers

Am I crazy to offer a gift of financial planning services to my cousins?

My Aunt, Uncle and cousins have never been good with money, and have also never had well paying jobs. My Uncle has just inherited a (low) six-figure sum. Do I try to help them out by offering to build a financial plan for them? [more inside]
posted by RecalcitrantYouth on Dec 20, 2009 - 11 answers

How to report tax info I don't have?

What date acquired and cost basis should I put for two items reported on a 1099-B, when there are several unknowns? [more inside]
posted by daisyace on Apr 10, 2008 - 8 answers

Won't you help me with my Teddy Bear

Calling all aunts, uncles and parents: Need recommendations on teddy bears that can handle a LOT of love from a child and can be passed on later to the next generation [more inside]
posted by jadepearl on Jul 24, 2007 - 18 answers

Inheritance etiquette?

Is it overly-morbid to thank a (still-living) relative for including you in their will? [more inside]
posted by anonymous on Apr 23, 2005 - 6 answers

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