Do I Have to Transfer My Mother's Guardianship If She Moves States?
I am the court-appointed guardian of my mother. This guardianship was created by the courts in Pennsylvania. To better car...
Read moreIt depends on the type of bill. Payments for medical, dental, and tuition are not subject to federal gift tax laws. But if you are paying other bills, you will be subject to the laws. This means that if you give away $14,000 or less to any one individual, you do not have to report the gift or gifts to the IRS. If you are married and file jointly, then you can give a total of $28,000. If you give away more than $14,000 to any one person, however, you will have to file a Form 709, the gift tax return. But just because you file a Form 709 doesn't mean you necessarily have to pay taxes. The IRS allows you to give away a total of $5.43 million during your lifetime before a gift tax is owed (this is the threshold as of 2015). For more information on gift taxes, click here.
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I am the court-appointed guardian of my mother. This guardianship was created by the courts in Pennsylvania. To better car...
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I am planning on selling my house and buying a smaller and cheaper one. I am married and have been in my home for 40 years...
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Many people periodically update their wills or other estate plans, but don't update who will receive distributions from th...
Read moreMedicaid Rules, etc