Co-heir Tax Responsibilities

[Stressed About]

What is the name of your state (only U.S. law)? Texas

2 Family members of mine are co-heirs to a small estate.

One is entitled to 75 percent of assets and the other 25 percent.

Not to get into the how's and why's the split is set up like this, my question is this : Are the heir's 50/50 liable for property and school taxes even though I've seen tax papers that show a 75 / 25 bill split.

 

[quincy]

What is the name of your state (only U.S. law)? Texas

2 Family members of mine are co-heirs to a small estate.

One is entitled to 75 percent of assets and the other 25 percent.

Not to get into the how's and why's the split is set up like this, my question is this : Are the heir's 50/50 liable for property and school taxes even though I've seen tax papers that show a 75 / 25 bill split.

Why do you need to know? Are you just curious?

 

[Stressed About]

Why do you need to know? Are you just curious?

Due to a family squabble, one of the heirs is not keeping in touch with the other and not keeping up with his share of the taxes, therefor the other heir is paying the full share. If we ever get hold of him, we want to be accurate in the amount of money he owes to the first heir.

Also, I'm the son of the heir that is paying the full tax amount and I hate seeing mom having to spend more money from her fixed income than she needs to.

AND, in case she passes on ... I will be the heir to her percentage and it will in turn affect my money as well.

 

[quincy]

Due to a family squabble, one of the heirs is not keeping in touch with the other and not keeping up with his share of the taxes, therefor the other heir is paying the full share. If we ever get hold of him, we want to be accurate in the amount of money he owes to the first heir.

Also, I'm the son of the heir that is paying the full tax amount and I hate seeing mom having to spend more money from her fixed income than she needs to.

It is nice that you are concerned about your mother (and understandable that you are concerned about your future inheritance) but this is a matter your mother needs to handle with the other heir. If they do not have an agreement in place already as to the division of expenses, your mom should probably sit down with an attorney in her area to get such an agreement drafted.

 

[Stressed About]

It is nice that you are concerned about your mother (and understandable that you are concerned about your future inheritance) but this is a matter your mother needs to handle with the other heir. If they do not have an agreement in place already as to the division of expenses, your mom should probably sit down with an attorney in her area to get such an agreement drafted.

I live next door to her and due to her health issues, I am Power of Attorney for her and she has asked me to see what I could find out. The other heir is completely ignoring the situation and not making contact. This has been for close to a year now.

Sitting down with an attorney after having to spend over 4000 dollars on another issue is not feasible right now. Walking in and paying 75 bucks every 15 minutes is just not affordable at this time.

 

[quincy]

I live next door to her and due to her health issues, I am Power of Attorney for her and she has asked me to see what I could find out. The other heir is completely ignoring the situation and not making contact. This has been for close to a year now.

Sitting down with an attorney after having to spend over 4000 dollars on another issue is not feasible right now. Walking in and paying 75 bucks every 15 minutes is just not affordable at this time.

Well, if the other heir is ignoring the situation and not making contact and your mother wants to preserve the asset, she will have to continue to pay 100% of all expenses.

 

[Stressed About]

Well, if the other heir is ignoring the situation and not making contact and your mother wants to preserve the asset, she will have to continue to pay 100% of all expenses.

Thanks, this I did know.

It's still a curiosity of mine to have an idea of what percentage the other heir is responsible for, IF he were ever to make contact so we be could be accurate of what he would owe.

 

[quincy]

Thanks, this I did know.

It's still a curiosity of mine to have an idea of what percentage the other heir is responsible for, IF he were ever to make contact so we be could be accurate of what he would owe.

It is a curiosity that could be sated by having your mom sit down with an attorney for a personal review of the estate in question - but I understand the costs involved.

In the meantime, have your mother keep good records of all expenses (property/school/etc).

 

[justalayman]

It is a curiosity that could be sated by having your mom sit down with an attorney for a personal review of the estate in question - but I understand the costs involved.

In the meantime, have your mother keep good records of all expenses (property/school/etc).

OP has another thread and states the tax bill clearly states that the taxes are apportioned as the ownership of the property is registered. Not sure why this thread when OP was so sure of their position in the other thread.


it appears OP may have deleted that thread though.

 

[STEPHAN]

There were valuable answers in the other thread that OP deleted.

No use in answering if OP deletes answers he does not like.

 

[quincy]

There were valuable answers in the other thread that OP deleted.

No use in answering if OP deletes answers he does not like.

I thought Stressed About had more threads at the start of the night than he did at the end. I missed the one that was similar to this one.

I think some of his post deletions were not of his own doing, though.