How do I handle my father's $60k tax bill?
My father recently passed (state of GA) and he owes some $60k in taxes. Presently there is no lien against his small IRA, home or van. My mother (though not married to my father) has lived in the home for more than 5 years.
We are trying to find her a home closer to us as we fear the IRS will take everything and she will have no where to go.
He owed much on credit cards too. I haven't touched anything and have no idea where to start.
I have sent back all of his bills, stating deceased, as there is no more income from his social security. We even had to pay for his cremation because he had no life insurance.
We are looking right now to purchase a home, closer to us, for my mother to live in. I feel like we've jumped out of the kettle and into the fire!
I have no idea what to do first, second or last. I'm totally lost!
Help!
5 Answers
Popular Questions
- I'm afraid my sister is trying to steal all of my mom’s money by being on joint accounts with her. What can I do to protect my mom?
- What is the reasonable amount for a child to receive as payment for caring for their elderly parent?
- How to tell my sister that I should be paid or get more than 1/2 of the inheritance for taking care of mom?
Related Questions
- Mom has a home with son living with her. House is in siblings and her name. What happens to house if she needs nursing care?
- Does this agency pay for removal of my tub and put in a shower?
- I'll need help taking care of mom 82 and blind all her life, I think I'll have to quit a job, can I get financial help?
- What are the rules of giving money before going into assisted Living? How much can be given and what is the time period?
His lawyer sent a letter to all of his creditors and 1 wrote it off. The will has. Ot yet gone to probate I, but we just purchased a small home for mother to live nearby.
I was told that the inheritated IRA had to be rolled over into my name; I care not as to whether the IRS takes it and the little farm is so far away we will have no one to care for it once we move my mother. It can be sold to settle what debts it can.
Thank you for the information about charging the cremation to ghe estate.
I guess now I just need the lawyer and probate judge to zet a date. I assume the cost can be charged to the estate as well?
and
then get at least a dozen death certificates (sometime the funeral home will order these for you (which you pay for) but otherwise you have to get them from the county or state and it can take time to get them). Most companies will need a actual death certificate in order to cease sending letters so although you have sent a letter in stating he's dead, they can't do anything till the death is verified. You need 1 for each debtor, insurance company, etc. plus maybe 5 extra. The more you order initially the cheaper they are.
If there was NO will, then you need to find out how his state handles that. Some states have it such that everything is escheated to the state. That is super sticky and you will need an attorney to deal establish heirship.
Whatever the case you can't just walk away as your dad's debts will affect your mom's situation. If mom & dad were divorced but still living together than she could still be viewed as common-law spouse.
Was dad on Medicaid at all? If so, there will be a claim or lein on the property via MERP (Medicaid estate recovery). Merp can be kinda subterranean in how the claim or lein is done as often does not show up on the tax assessor site but will show up when selling the property and the title search is being done.
Now in probate, expenses paid on funeral and burial are expenses against the estate. So if you paid 2K for it, then you can file a claim against the estate for those costs. If you pay for things on the house (like taxes) those too are usually expenses filed as a claim on the estate as also is being adminstrator for the estate. You kinda have to pay attention to how they get paid but that would be an attorney answer in how to structure. Good luck.