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

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

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