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Do we have anyone here who is familiar with inheritances and tax law?

Discussion in 'General Gun Discussions' started by bogie, May 14, 2004.

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  1. bogie

    bogie Member

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    I've got a question, and I trust y'all...

    And Pax, if it works out in my favor (a) I'm gonna buy a Mac 11/9, and (b) I'll let you shoot it if you ever make it to Knob Creek...
     
  2. another okie

    another okie Member

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    Such laws vary widely from state to state, and the tax aspect changes almost daily. You would be very unwise to depend on advice received on the internet.

    My advice is to pony up the one hundred dollars or so a lawyer admitted to practice in Missouri will charge for an initial consultation. The local bar association can give you the names of some lawyers who specialize in that area. Another way to find a good specialist in this area is ask the trust department at a bank who they recommend. Inheritance taxes are very complicated and many lawyers know almost nothing about them. Still another way would be to ask a local CPA who you trust for a recommendation. Do not listen to legal advice from insurance agents, accountants, real estate agents, and bankers, all of whom think they know more than they do.
     
  3. pax

    pax Member

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    :D

    I'll take you up on it someday, Bogie, even though outright bribes of a moderator are probably against the forum rules somewhere.

    You know darn good and well this is off topic, but that's such a generous offer that ... ah, heck.

    I'm not going to notice this thread for at least 24 hours. You should have your answer by then (and PMs and emails will work after that, right?)

    pax
     
  4. mr_dove

    mr_dove Member

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    There are two types of attorneys that you may want to look at depending on the actual nature of your question.

    attorneys that specialize in:

    Trusts and Estates
    Tax Law

    Trusts and Estates has an inherent amount of tax law built into it but most attorneys that do trusts and estates know only as much tax law as they need to do their jobs.

    Tax attorneys know craploads about taxes but next to nothing about estate planning matters.

    Your best bet is probably to go with the Trusts and Estate attorney. If he needs help with the tax portion of your question he'll consult a fellow attorney for clarification.

    Findlaw has an attorney search engine that will find attorneys or law firms based on geography and practice area. Go to www.findlaw.com You'll find the link a few inches down on the left side of the page.

    You might even find one to offer a free consultation.
     
  5. Unlucky

    Unlucky member

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    Any attorney should offer free or substantially reduced rates for consultation.
     
  6. Ohen Cepel

    Ohen Cepel Member

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    Best advice I can offer is to plan before and talk things over.

    After the person passes there are options that are off the table.

    I have read on the subject some however, can't suggest any particular book.

    Having a plan really is half the battle in this case!
     
  7. mr_dove

    mr_dove Member

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    Here's an amazon link to the book that I have:

    http://www.amazon.com/exec/obidos/A...59822/sr=11-1/ref=sr_11_1/104-1814230-6083968

    The author was my professor in my trusts and estates class that I took in my undergrad program. I've yet to take trusts and estates in law school.

    I can look to see if your question is in the book if you want to e-mail me the question. Otherwise you can check with an attorney or pick up a book.
     
  8. John Ross

    John Ross Member

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    What's your question?

    JR
     
  9. dinosaur

    dinosaur Member

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    This is going to sound greedy but make sure your loved one (or you for that matter) have a reputable lawyer. Before my aunt died she hired a lawyer through a "friend". Guess who got 1/3 the estate.:cuss: It's more complicated but trust no one when it comes to estates.:uhoh:
     
  10. Dave Markowitz

    Dave Markowitz Member

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  11. 0007

    0007 Member

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    Here in FL the usual charge for a lawyer to handle legal matters pertaining to the probabting of an estate is around 3-5% of the value of the estate depending on the value of the estate(typical $100.000 or more). Smaller estates are often handled on flat-rate basis. That said, unless you are very conversent with estate law in your state, I would suggest that you cough up the required dunnage and consider it money well spent... Just my $0.02 worth.
     
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