Tag Archives: inheritance

We’ve been married 21 yrs. and live like roommates?

My husband is basically a wonderful man. We married when my children from 1st marriage were 4 and 6. We also have 3 children together. (2 at home- youngest is 6)) After my mother died in ’99 i received a substantial inheritance and we bought our “dream” land (15 acres) and built a house. It has become a nightmare. Not enough time, energy or money to keep it up. (also, no one helps me) Anyway, 2 yrs. ago we decided to divorce and put the house up for sale. It has not sold. We are simply “waiting”. At least thats what I think, as we dont talk about it AT ALL. We get along fine, he’s a great story teller, he makes me laugh still, puts up with lots of my crap, but we’re just “pretending”, i feel, for the kids. We sleep in separate rooms and have our own lives, but as long as I am home and “play” the role, everything is “fine”. If I ask if we’re still getting divorced, his answer is usually something like, “May as well.” I have no idea what we’re doing. This could go on forever.

Can son legally stop father from selling family inheritance land to pay for bad stock deals and church annex?

My partner’s father is an overzealous church deacon. His father lost a considerable amount of money at stocks, built an enormous, fund-draining home, and claims he now needs the land sale money to keep the house but he consistantly throws away $400+ a week to a small country church in the form of a “donation”. The son is furious at his father for secretively selling off portions of the family land to pay for trying to live too big and appear to be the “big man” in the county at church. The land has been in their family for several generations, and has always been kept intact, until recently. It is also suspected the father is trying to sell off land to make a very large donation for a proposed annex for the church. The son cares deeply for the land, and sees the land as a part of the family legacy, not as a commodity to dice and sell. Can the son do anything legally to prevent the further squandering of the inheritence?

mother in law?

My father in law died last spring, my husband has 1 brother and 3 step sisters(from father). After Willy passed away, his land was suppose to be sold and HIS half of the sale was to go to the children. Well, Liz (mother in law) has spent nearly every red cent, on her new “I deserve everything” life, has a boyfriend already (each to his own) and hasn’t given anyone their inheritance. What is the best way to go about getting what is ours. I’m not asking for myself, I could care less, but my husband, our family, his brother and his family are very upset. The girls don’t have much to do with the boys, so I’m not really concerned about them although they deserve what’s coming to them as well. She is a very greedy, selfish person as well.

Inheritance or Capital Gain?

In 1986 my mother passed away suddenly with no individual will – only my parents’ joint will. This year my father sold all of her land (for $85k) in Louisiana (we live in MS) with the plan of paying the capital gains tax and giving the proceeds to all of us, his children (who would then pay taxes too being over $11k). According to Louisiana law (Napoleanic code?), since there was no will, the proceeds of the sale go to the children – all now in their 40s not the spouse. Each will get about $27k. My question is, in April of ’07, on my ’06 taxes, will this be counted as a tax-free (I think if under $2 million) inheritance or will I need to get a record of its appraised price in ’86 and pay capital gains tax on the proceeds using a cost basis on the price difference from ’86 to ’06?

How much will 7,000 dollars affect my tax return?

I received 7,000 dollars from the real estate sale of my late grandfathers house and land. It was given to my aunt as a lump sum gift and she divided it up among children and grandchildren. I’m guessing she received it in a lump sum so that the children and grandchildren wouldn’t have to pay estate inheritance tax. If this is listed as additional income for me, how much will this affect my return? I figure I’ll have to pay about 1200 dollars in tax on this money.
the initial amount was 120,000 divided among the 4 children then among their grandchildren. that’s how I got 7,000.