Inheritance split

[jayce48]

I recently inherited about 140million from my great grandfather. I was closest with him and had similar interests, we got along well and he thought the rest of the family was sucking up to get their hands on some of that money. Long story short, they are all pissed off and threatening to take me to court about this before I got the chance to mention I would be splitting it up the best I could with the immediate family. The government has already taken a decent size chunk of this money and I want to be able to give some to my family before I drop off the face of the earth. Is there anyway I can avoid even more taxes? would it be best to just leave the money in my accounts and then give them money as they wanted??

 

[Zigner]

I recently inherited about 140million from my great grandfather. I was closest with him and had similar interests, we got along well and he thought the rest of the family was sucking up to get their hands on some of that money. Long story short, they are all pissed off and threatening to take me to court about this before I got the chance to mention I would be splitting it up the best I could with the immediate family. The government has already taken a decent size chunk of this money and I want to be able to give some to my family before I drop off the face of the earth. Is there anyway I can avoid even more taxes? would it be best to just leave the money in my accounts and then give them money as they wanted??

Sorry, this forum is for US law only. Also, if you really did inherit (and receive, after taxes) the amount you claim to, then not only can you afford legal counsel, it's virtually a must that that you seek legal counsel.

 

[jayce48]

??

How is this not US law? I have already sat down with lawyers and all that other bull****. All i want to know is if I can legally give it away without the government taking more of it. could I possibly get a reply from someone who actually knows something about this sort of thing?

 

[LdiJ]

How is this not US law? I have already sat down with lawyers and all that other bull****. All i want to know is if I can legally give it away without the government taking more of it. could I possibly get a reply from someone who actually knows something about this sort of thing?

You were asked to give the name of your state in your first post. You did not do so. State law varies.

It would be irresponsible of us to answer questions about a case at your level. You need answers from your attorney.

 

[Zigner]

How is this not US law? I have already sat down with lawyers and all that other bull****. All i want to know is if I can legally give it away without the government taking more of it. could I possibly get a reply from someone who actually knows something about this sort of thing?

You didn't bother giving us the name of your US state.
Why do you think a bunch of random strangers on the internet could advise you in a better way than your attorney(s)?

I bet you're a troll

 

[latigo]

You didn't bother giving us the name of your US state.
Why do you think a bunch of random strangers on the internet could advise you in a better way than your attorney(s)?

I bet you're a troll

Oh come now, Z! The filthy rich looking for financial tips from people they don't know is common place. I've even been known to quiz a bag lady who put me into used shopping carts.

___________________

Like one hobo said to another: "I'd give a hundred bucks to be one of them there millionaires."

 

[davew128]

Not to mention there is nothing in US federal tax law that would have taken anything from inherited money, since there is no federal tax on an inheritance.

 

[Zigner]

Not to mention there is nothing in US federal tax law that would have taken anything from inherited money, since there is no federal tax on an inheritance.

Good point. Taxes come out before it's an inheritance.

Trolls don't care though.

 

[LdiJ]

Good point. Taxes come out before it's an inheritance.

Trolls don't care though.

Eh...that is using semantics (which is fair to do to the OP but could lead others astray). If an estate is 140 mil, a hefty amount of estate taxes are going to be paid before anything is distributed to the heir(s).

OP if you are for real, then you need to surround yourself with lawyers and accountants or you are going to end up like so many of the lottery winners end up...broke and a hot mess within a couple of years.