About to get my inheritance

Terrible how kids get. It's just greed.

 

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Kind of funny you say that my youngest sister is trying to look out for her older sister the older sister who lives with my dad it was first in line to buy the house

My youngest sister is trying to get my dad to lock the house and at what he paid 7 years ago which is 225,000

Here's what his neighbor's house just sold for

 

Yes, inheritance greed has broken up my family on both sides. I have a two-thirds interest in a piece of land I would love to sell. A cousin, whose mother owns the other third, won’t let me sell it. Why? She’s waiting for her mother to die so that it can pass through an estate and give her a stepped up basis.

 

What would you advise?

I couldn't even begin to figure what my maintenance and improvements have been on my home, as it's been a constant expense, when living among dense woods.

My son/daughter-in-law would like to have continuous use of the guest house, while without improvements the assessor raised the evaluation for next year $40,000, above this years, where taxes rose ~20%.

It's believe to be only an investment for government, who are generating new regulation/inspection jobs for "the good of our country".

I don't believe I'm alone in this government expansion scheme.

I'd love to recover part of my costs above the purchase price expense.

What a foolish thought! Silly Boy!!

 

In my life, there isn't any property insurance, and I could tell you many horror stories about incidents and insurance obfuscation/statute-of-limitation.
A normal insurance process: https://www.google.com/search?client=firefox-b-1-e&q=state+farm+great+earning+thru+claims+denials

A typical government process when insurance clients are denied:
State Farm recently had to pay a $100 million settlement to the federal government because of its mishandling of flood insurance claims after Hurricane Katrina.

State Farm is facing lawsuits from customers, agents, and former employers for allegedly denying insurance claims based on race, age, income, hoping for laws to assist filing limitation.

Personal diligence is considered by some as your best insurance.

 

You’re not alone, buddy. We’re not alone, put it that way. Really deranged.

 

Can't wait for the pictures. I recently went though similar, but we all sat at a table and divided the treasure up. All raw coins, and just divyed up one at a time by lot, roll, and loose coins. Some of the loose ones were so massive we sacked them, and divided them by weight. The process still took 4 hours. As for the gold, well nevermind, I don't want to step on your post, I'll start a new thread.

 

My worry is the subdivision comes with colonials and ranches the house it's sold for that price has a thousand square foot more then his house

Don't want to see my sister get stuck with an investment it's not worth the set price in the trust

 

Update
Haven't been to my dad's yet my sister sick got some respiratory thing going on she sounded terrible

So I'm scaring clear headed to smoother water LOL

 

Update
Going to Dad's for Christmas and then going to the bank next week hopefully my brother is going to show him and my sister are fighting like cats and dogs .

I told him he needs to get over it he needs to have The showdown with her I had to when my mom first passed

 

following

 

You might have your dad give you a signed and dated letter detailing what he gives you. This will be good evidence of your ownership in case of future disputes. It will also establish your basis for tax purposes in case you sell the coins. The basis will be the value of the coins on the date of the letter. Keep the letter confidential and in a secure place.

Cal

 

Not sure about other states, but here in NY, Last Will and Testaments need to be witnessed by two, and notarized.

I like your idea @calcol, but I would add, have that letter witnessed and signed as such, and notarized.

 

It's not a will; it's a gift. But getting it notarized is a good idea. Cal

 

Correct, not a will. However, Wills can be challenged. That's why they need witnesses and notarization. It's proof of authenticity and intentions of the deceased.

If the legality of a Will can be challenged, certainly the legality of an informal letter can be challenged. If you're making a good recommendation to @Rick Stachowski regarding the letter, might as well make that letter more solid in a challenge.

 

Looking forward to seeing the photos of the coins.

I know first hand how greed works in families, so sad.

 

My dad also just gave me the van wanted to give me the boat too cuz neither of them are in the trust

When we went to change the title over we had fun with the secretary of state confuse the hell out of them

He's senior that I'm Junior what a mess that has been our whole lives

 

If his dad is not planning on paying gift tax, he needs to be very careful who he asks to be a witness … someone who is a good friend but not likely to be an heir of his dad and won’t care whether the tax is paid. Preferably the witness should be ignorant about gift tax … lots of folks are. The notary should be one who does not know him or his dad. And he and his dad should say as little to the notary as possible. In a “no tax” situation, the fewer who know about the transaction, the better. In this situation, the quality of ownership evidence needs to be balanced against an unpleasant interaction with the IRS. Of course, the letter itself would be evidence for the IRS as well as evidence for fending off claims of others to the coins. So, the whole tax, letter, notary, witness thing needs careful thought. If his dad were to meter-out the coins over several years, keeping each year’s value below the tax limit, then gift tax is irrelevant.

Cal