Question and background: If you have investment properties, can you transfer them to a trust and save on your taxes? I am at a 55 percent tax bracket. I was told if I transfer them to a trust, when the rental income comes in kiss that deposit directly into the trust and the trust is only taxed 10%. [Asked by "Kris"]
Question and background: I'm executor of my mother's estate. She left no estate and died 2 years ago. A bill collector contacted regarding an unpaid medical bill. They are asking me for payment. I was told there is a statute of limitations for collection of medical debt. Can I be sued for payment? Does a statute of limitations exist in NY? How should I deal with this debt collector? I initially offered to provide them a copy of her death certificate, but they declined.
Question: As a beneficiary of a trust, what information about the trust am I entitled to?
Question: How do I fill out an Advance Directive? For example, is there a template out there I should use? Is this something I should carry around in my wallet, and does it need to notarized and/or signed by my lawyer?
Question and background: I am 42 years old and my aunt passed away in 2013 at age 73. I inherited her IRA that she had already begun taking distributions from. Am I required to keep taking distributions? If so, how much?