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InfiniteMonkeys
Guest
I need some advice for two sisters. They are inheriting a small amount of money from their mother. One sister has IRS debts, while the other has a history of IRS troubles (from 10 years back stemming from her ex-husband) which have all been cleared up.
Nothing has been done yet, but it was suggested that the daughter with IRS debts could refuse any inheritence and the other sister could accept the entire inheritence and help her out on occasion as needs arose. I became concerned that the IRS might find out about this and consider this some form of collusion or conspiracy to defraud and get both of them in trouble.
Another notion that seems reasonable to me is that the indebted sister could negotiate with the IRS. The amount inherited should be about 1/3 to 1/2 of the total debt.
My questions are:
1) Is there potential for legal trouble if the indebted sister refused the inheritence and later accepted help from the other sister?
2) Does the indebted sister have any leverage to negotiate with the inheritence or will the IRS, upon finding out about the inheritence, just take it all and still want the remainder?
I desperately need help with these questions since I fear that the one sister is about to get both in trouble.
Thanks 1,000,000
Nothing has been done yet, but it was suggested that the daughter with IRS debts could refuse any inheritence and the other sister could accept the entire inheritence and help her out on occasion as needs arose. I became concerned that the IRS might find out about this and consider this some form of collusion or conspiracy to defraud and get both of them in trouble.
Another notion that seems reasonable to me is that the indebted sister could negotiate with the IRS. The amount inherited should be about 1/3 to 1/2 of the total debt.
My questions are:
1) Is there potential for legal trouble if the indebted sister refused the inheritence and later accepted help from the other sister?
2) Does the indebted sister have any leverage to negotiate with the inheritence or will the IRS, upon finding out about the inheritence, just take it all and still want the remainder?
I desperately need help with these questions since I fear that the one sister is about to get both in trouble.
Thanks 1,000,000