Inheritance: What to do?
posted in law, life, zen |Due to the passing of my Grandmother, I’m finding myself in the midst of receiving an inheritance.
I’m currently looking at speaking to a lawyer about this, as the sum is substantial enough to warrant looking at protecting it. I’m forced to imagine Shawshank Redemption:
Mr. Hadley, do you trust your wife? [Hadley threatens to throw Andy off the roof] Because if you do trust her, there’s no reason you can’t keep that thirty-five thousand…If you want to keep all that money, give it to your wife. The IRS allows a one-time only gift to your spouse for up to sixty thousand dollars…tax-free…you do need someone to set up the tax-free gift for ya, and it’ll cost ya, a lawyer for example…I suppose I could set it up for ya. That would save you some money. You get the forms, I’ll prepare them for ya, nearly free of charge.
-wikiquote
Thankfully, someone at work has pointed out a lawyer to speak to. My mission this week is to find out all I can about inheritance laws and taxes!
