How to Refuse an Inheritance

This column first appeared in the SA Express-News and its MySA website on June 23, 2015. Dear Mr. Premack: I was recently informed that my aunt died and left a respectable inheritance for me. This may sound odd, but I am doing well and do not need this money from her. I would very much…

Estate Tax & Gift Tax Exemptions

This column first appeared in the San Antonio Express-News and the MySA website on January 14, 2015. Dear Mr. Premack: It is a new year. What has the IRS done with the federal estate tax for 2015, and what about the gift tax? – I.R. The federal estate tax is imposed upon an individual’s death…

Title Transfer and Taxes under Lady Bird Deed

This column first appeared in the MySA Express-News on December 11, 2014. Dear Mr. Premack: My wife, as Grantee on a Lady Bird Deed, received ownership of her parents’ house after her mother’s death earlier this year. Her father is in a nursing home with no possibility of ever going home. Intentions are to sell…