my dad owes back taxes & child support in c.a. my grandma owns a house in the state of washington. she will be passing away soon.is there anyway that she can put the estate in my name so the i.r.s. wont take all the money from the sale of the house if it were in my dads name. its in his name as of now. can we set up a trust fund for me so im the only owner of the house.its in washington state. i need to know all the laws of inheritance,estate procedures. etc...
2007-06-18 09:04:24 · 3 answers · asked by girlbld 1 in Business & Finance ➔ Taxes ➔ United States
Your grandmother should consult with a local attorney with estate planning experience.
If your father is one of the legal owners of the property right now, any effort to transfer the ownership to hide the asset from the tax man or his children may fail. Depending upon the circumstances, it may even be a crimminal act.
Why would you possibly want to bar his kids -- your brothers and sisters -- from getting the support that they deserve??
2007-06-18 09:58:27 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
was it new? if not new then you got what you paid for. did you have it inspected before you purchased? if you had it inspected you may have some recourse if items should have reasonably been found by the inspector. you probably need to make the improvements that are needed and move on but since i do not live in Michigan i can not say for sure. hopefully someone with more specific knowledge will answer. good luck!
2016-05-18 23:13:07 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Your grandma can will the house to whomever she wants to.
2007-06-18 10:13:26 · answer #3 · answered by Judy 7 · 0⤊ 0⤋