The question of what a surviving spouse inherits from a deceased spouse is a complicated one. At common law, a wife was not an heir, although she might be entitled to support. Many people are surprised to hear that a surviving spouse does not simply inherit everything from the deceased spouse. That can be a… Read More
They call it the American Taxpayer Relief Act. Funny, that. Overall it produces tax increases – that’s relief? Early January 1, 2013, the Senate, by a vote of 89-8, passed the “American Taxpayer Relief Act”. Late on that same day- after the government had technically gone over the “fiscal cliff” – the House of Representatives,… Read More
The Thursday, March 31, Intelligencer/New Era carried The Motley Fool’s School article entitled “Probate 101.” I was appalled. I thought those guys were pretty smart. And I always liked the Shakespearean allusion to the Fool who could tell the truth to the King and Queen. But what happened? Probate is not the horror it is… Read More
Thank you to Atty Charles Rubin who posted about the news from the IRS on his blog: Rubin on Tax. Here is the IRS publication: click here Rubin says: Some things are fairly clear from the website information, and some things are not. As far as what is clear: a. The Form 8939 for allocating… Read More
A person who dies without a will dies intestate. Each state has a statute that specifies to whom the decedent’s property is distributed if there is no will. You can check out who would receive your property if you die without a will at Intestacy Calculators TM. This site and the calculators it contains were… Read More