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You're question is a bit to vague for a specific answer. Generally, money inherited is treated the same regardless of whether it came from a lawsuit or an investment by the deceased. If the suit is still pending at the death of the individual, then the attorney for the asbestos related disease may have to amend the case to include either a Survival Action for the losses of the injured person during their lifetime, or a Wrongful Death Action for the losses of his or her family. Generally, Survival Action money becomes an asset of the estate of the deceased, and Wrongful Death Action money is paid directly to the family or dependants. Any qualified estate planning lawyer, such as one from the American Academy of Estate Planning Attorney (www.aaepa.com) can assist you with such questions.My practice is in Pittsburgh as The Estate Planning Centers at The Coulter Law Offices LLC. Please remember that this is a general discussion only, and is not intended as legal advice upon which anyone should rely. Moreover, I'm typing this reply off of the top of my head as a courtesy, not as a researched answer to your situation. You should consult with a lawyer or appropriate professional regarding you own specific facts and circumstances. Mark T. Coulter, J.D.
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∙ 14y ago
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Inheritance money what do you do with it?
A person can do anything they want with inheritance money. Many people buy a home, cars, or save for the future with the money.
What is inheritance cash?
"Inheritance cash is just like any other inheritance, except it's money as opposed to land or a house or other assets." An inheritance is something that is left to you by a family member who has passed away. Inheritance cash is just the money form of an inheritance.
How can you get an inheritance loan?
You can get an inheritance loan to get money more quickly when you are due to inherit money or get a legacy from someones estate. There is often a delay in receiving your inheritance while the estate that the money is coming from obtains probate. Companies specialising in inheritance loans will lend you money while probate is being obtained.
How old do you have to be to control inheritance money?
The exact age you must be to be able to control inheritance money varies by state. All states require that you must be at least 18 years of age, and in some states it is 21.
Can an heir receive an advance of money if the party from whom they are to receive the inheritance is still alive?
No. The "heir" has no right to that money whatsoever.
Inheritance money what do you do with it?
A person can do anything they want with inheritance money. Many people buy a home, cars, or save for the future with the money.
What is inheritance cash?
"Inheritance cash is just like any other inheritance, except it's money as opposed to land or a house or other assets." An inheritance is something that is left to you by a family member who has passed away. Inheritance cash is just the money form of an inheritance.
How can you get an inheritance loan?
You can get an inheritance loan to get money more quickly when you are due to inherit money or get a legacy from someones estate. There is often a delay in receiving your inheritance while the estate that the money is coming from obtains probate. Companies specialising in inheritance loans will lend you money while probate is being obtained.
Is inheritance income taxable?
money that has been inherited has already been assessed for inheritance tax based on the amount left in the deceased estate. Once you have inherited the money you are not liable for inheritance tax.
How can you buy money?
You can't buy money. You can earn money through work or inheritance.
Being in a chapter 13 bankruptcy do you have to turn over money from an inheritance?
Should money from an inheritance be turned over in a chapter 13 case? the case was filed at least 12 months before the inheritance
What do you pay if you have an inheritance that arrive from a different country?
I will get money from inheritance already taxed in Germany. Do I have to pay taxes in California too ?
Why would school officials spend money to remove asbestos from school buildings?
The reason that school officials would spend money to remove asbestos from school buildings is because asbestos is incredibly dangerous if inhaled. At one time, it was great as a fire preventor, but now it's been linked to all sorts of cancers and is considered incredibily toxic and deadly to humans. Another reason for removal and abatement is that, when disturbed, asbestos causes health problems. Any remodeling of an area has to include remediation of asbestos.
Do you have to claim inheritance money when filing for financial aid for college?
no
Do you have to pay child support from inheritance money?
Yes.Yes.Yes.Yes.
Where to put money from an inheritance for a young man?
Trust Fund
Can you use non taxable inheritance money for donation as a deduction?
no
