Estate and Elder Law

Recent Posts

Ask Liza: Reporting Foreign Gifts
Posted on 19 May 2015 by Liza Weiman Hanks

Dear Liza: Does a person receiving a gift from a sibling in another country have to pay gift tax on that gift in the United States? In the United States, gifts are not considered ordinary income, so you don’t have to report them or pay income tax... Read More

Ask Liza: Who Inherits When There’s No Beneficiary?
Posted on 19 May 2015 by Liza Weiman Hanks

Dear Liza: My dad named his mother as his beneficiary, but she passed away in 2004. My dad died in 2013 but didn’t change his beneficiary. I am my father’s only child and he has no wife, so who gets the money ? When a person dies and there’s... Read More

Ask Liza: When does a Will Make Sense?
Posted on 19 May 2015 by Liza Weiman Hanks

Dear Liza: A friend of mine is considering a living trust. The only property he has is a coin collection maybe worth around $15,000. He has an adult daughter who he doesn’t communicate with and does not want her to get anything. He would like to... Read More

  • Blog Post: Ask Liza: Reporting Foreign Gifts

    Dear Liza: Does a person receiving a gift from a sibling in another country have to pay gift tax on that gift in the United States? In the United States, gifts are not considered ordinary income, so you don’t have to report them or pay income tax on the amount you’ve received. (If a US citizen...
  • Blog Post: Ask Liza: Who Inherits When There’s No Beneficiary?

    Dear Liza: My dad named his mother as his beneficiary, but she passed away in 2004. My dad died in 2013 but didn’t change his beneficiary. I am my father’s only child and he has no wife, so who gets the money ? When a person dies and there’s no surviving beneficiary named for an account...
  • Blog Post: Ask Liza: When does a Will Make Sense?

    Dear Liza: A friend of mine is considering a living trust. The only property he has is a coin collection maybe worth around $15,000. He has an adult daughter who he doesn’t communicate with and does not want her to get anything. He would like to leave the collection to me. Is a living trust a good...