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3
votes
1answer
121 views

Can you borrow against a home that you don't fully own, i.e. inherited part, but without estate fully settled?

My brother and I were left our parents' home after they passed. My brother, executor of the will, resided in the house at the time of their deaths and I did not. The home is still in the name of ...
2
votes
1answer
36 views

Who Can I Hire To Calculate the Value of An Estate?

My grandfather in Russia recently died, and he was very private about the state of his finances and did not leave a will. Because of that, nobody, not even his son, really knows what he's worth. He ...
4
votes
2answers
1k views

Do I need to refile taxes after receiving late K-1?

I inherited a relatively small amount of money from a trust after my grandmother passed away in 2012. The amount was well under the threshold of paying any estate taxes at either the federal or state ...
6
votes
2answers
424 views

Does money received from the estate of a deceased parent count as income?

My father passed away last year and my uncle was listed as executor of the estate. He liquidated the entire estate and it was released from probate last month. All of the children received an equal ...
11
votes
2answers
356 views

Is there a way to disclaim an inheritance and decide who gets the inheritance that you disclaim?

Is there a way to disclaim an inheritance but be able to decide who gets the inheritance that you disclaim? FYI, we are talking about a non-spousal inherited traditional IRA account. The original ...
10
votes
4answers
840 views

Will says “divide estate equally”. Life insurance has one named beneficiary. Can proceeds be made estate property?

If a parent dies and leaves a will that divides the estate equally, but also leaves a life insurance plan that names only one child as a beneficiary, can the other siblings force the life insurance ...
5
votes
1answer
5k views

By when must an employer send out final payroll tax documents (T4) for a deceased person in Canada?

My wife died in April, 2011, and I am the administrator of her estate. She worked until the day she died. I have had to submit a tax return for 2010 and will have to do so again for 2011. The ...
5
votes
2answers
190 views

Mother owed previous years federal and state taxes at death and probate is closed. Are her children responsible for paying them?

My Mother died with little or no assets. Her only income was SS which ended upon death. Her estate was probated with no claims against it and is basically insolvent. One of the bills she owed were ...
20
votes
1answer
524 views

Estate with negative net worth

If someone dies with a negative net worth, what happens to the bills and debts that they leave behind? If I am the next of kin, or if I am the estate administrator, am I responsible for the debts? ...
6
votes
1answer
535 views

When someone receiving Social Security dies, does the estate have to give back their last “paycheck”?

When someone receiving Social Security in the US dies, I have heard that there are some cases where the estate must return the last payment made by Social Security. It makes total sense to me that if ...