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Old 02-04-2012, 03:49 PM   #29
Janet
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Why not just gift it to her in your will. Not sure about other states, but we can gift up to one hundred thousand dollars before having to pay inheritance tax. So my brothers nor I will have to pay a tax. I know it's crazy for us to wait, but once everything is settled with Mom's estate in April, Rick and I are going to do our Will. Our attorney does it all at once, Will, POA and Medical Power (forget exactly what it's called). It's very possible with our 3 houses it could add up to over the tax amount, so we would have to gift it to him a little at a time or save it so it can be used to pay our living expenses in a nursing home which aren't cheap and if there is any left, it can go to him.
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