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• 1. F

     Out of State Home in Probate....

     I got lost

     • Foamback
     • Post #9
     • Oct 5, 2024
     • Forum: Buying & Selling a Home
  2. F

     Out of State Home in Probate....

     So it seems that in Florida JT is not JTWROS. That could mean SIL owns 50% of the real property minus creditors. Conversations are meaningless. What matters is the laws and the will...

     • Foamback
     • Post #7
     • Oct 5, 2024
     • Forum: Buying & Selling a Home
  3. F

     Out of State Home in Probate....

     1) was there a will? 2) is this an official small estate? Or was that just shorthand for nothing in particular? https://www.courts.ca.gov/documents/de305.pdf

     • Foamback
     • Post #3
     • Oct 4, 2024
     • Forum: Buying & Selling a Home
  4. F

     Gift of equity in a house

     The principal residence exemption is a separate issue fro The principal residence exemption is a totally different issue than the date and amount of basis

     • Foamback
     • Post #9
     • Sep 11, 2024
     • Forum: Tax Law
  5. F

     Gift of equity in a house

     Capital gains for both of you when the house is eventually sold is another discussion. Depending on lots of things, if you remain off title and inherit the house, you do so with no capital gains at the date of death. If you are on title and the house is sold, the capital gains basis is the...

     • Foamback
     • Post #5
     • Sep 11, 2024
     • Forum: Tax Law
  6. F

     Gift of equity in a house

     It could be considered a gift of 50% of the property, and a form 709 reporting the gift if the value is above $16K is required. But….no tax is actually due until the $13M lifetime gift and estate limit is reached federally. This limit will sunset down to $5M in 2025. The state may have its...

     • Foamback
     • Post #3
     • Sep 11, 2024
     • Forum: Tax Law
  7. F

     Gift of equity in a house

     That’s not what a gift of equity is https://www.investopedia.com/terms/g/gift_of_equity.asp

     • Foamback
     • Post #2
     • Sep 11, 2024
     • Forum: Tax Law
  8. F

     Tax implications on large civil settlement.

     1099 is correct because it’s not real income.

     • Foamback
     • Post #3
     • Aug 14, 2024
     • Forum: Tax Law
  9. F

     auto insurance claim denied by the at fault party's insurance company under false pretenses

     Thanks

     • Foamback
     • Post #5
     • Aug 13, 2024
     • Forum: Auto Accidents and Vehicle Claims
  10. F

      auto insurance claim denied by the at fault party's insurance company under false pretenses

      Did you have comprehensive? Why don’t you sue the driver and the owner?

      • Foamback
      • Post #3
      • Aug 13, 2024
      • Forum: Auto Accidents and Vehicle Claims
  11. F

      tax on ira inheritance

      You’re correct, what I was trying to say is create inherited IRA accounts. When my mother died MS created new separate inherited IRA accounts for my sister and I. My mother’s account was xxx, ours were xxx-01 and 02

      • Foamback
      • Post #11
      • Aug 10, 2024
      • Forum: Tax Law
  12. F

      tax on ira inheritance

      Gotcha On my third reading of this I think the OP is going to take the entire amount and then distribute the funds from her account. That seems difficult to not hit herself with added taxes. Too bad they can’t all get small individual rollover accounts. There must be some family dynamics at play

      • Foamback
      • Post #8
      • Aug 9, 2024
      • Forum: Tax Law
  13. F

      tax on ira inheritance

      Will the brokerage holding the IRA roll it into a new IRA for you? Then you would have ten years to use up the money, as per the IRS schedule

      • Foamback
      • Post #5
      • Aug 9, 2024
      • Forum: Tax Law
  14. F

      Wife spending like crazy, toxic marriage

      That doesn’t make sense. One gets SSDI for themselves.

      • Foamback
      • Post #8
      • Aug 5, 2024
      • Forum: Divorce, Separation & Annulment
  15. F

      Wife spending like crazy, toxic marriage

      Just to clarify, SSI is supplemental security income, primarily a disability resource for people with little resources. There are rigid income, resource, housing and bank account limits on people receiving SSI. You are also eligible for Medicare and Medicaid SSDI is social security disability...

      • Foamback
      • Post #4
      • Aug 5, 2024
      • Forum: Divorce, Separation & Annulment
  16. F

      Evidence Discrepancy

      Just to clarify. I actually do know how to spell college

      • Foamback
      • Post #14
      • Aug 1, 2024
      • Forum: Arrests, Searches, Warrants & Procedure
  17. F

      Evidence Discrepancy

      Community collage law school?

      • Foamback
      • Post #11
      • Aug 1, 2024
      • Forum: Arrests, Searches, Warrants & Procedure
  18. F

      TOD for home, what happens to the assets inside?

      I agree with Adjuster Jack, the house became his property the instant of final breath. If there is going to be drama, the ex is best off to avoid the family. He may be enticed by a neutral third party to turn over valueless momentos, but that is probably just stirring a hornets nest. Most...

      • Foamback
      • Post #5
      • Jul 29, 2024
      • Forum: Elder Law, Powers of Attorney, Living Wills (Adva
  19. F

      Evidence Discrepancy

      Homework?

      • Foamback
      • Post #7
      • Jul 29, 2024
      • Forum: Arrests, Searches, Warrants & Procedure
  20. F

      TOD for home, what happens to the assets inside?

      Has the family approached the ex-BF? If nothing is done except dithering, then at some point everything inside could be considered abandoned by the heirs. What exactly does the family want? Everything? Just the mementos? Something In between? People are most often reasonable when approached...

      • Foamback
      • Post #2
      • Jul 29, 2024
      • Forum: Elder Law, Powers of Attorney, Living Wills (Adva