Tuesday, December 20, 2011
The IRS is requesting information from various states, including Ohio about real estate transfers between parents and children from 2005-10 for purposes of determining gift tax compliance. If you made or received such a gift, you should file a Form 709 immediately.
Monday, December 12, 2011
If someone wants to leave differing inheritance amounts to her children, she should explain the reasons for doing so. Also, she should make sure that her estate planning documents reflect her current wishes, not her wishes from several years ago when relationships and asset values might have been different.
Thursday, December 8, 2011
Tuesday, December 6, 2011
In Ohio, creditors have six months after death to file a claim against the estate to secure payment for the debt of a decedent. After that time, the claim is forever barred. However, some creditors/collection agencies still attempt to collect from surviving spouses and family members by appealing to their guilt.