gift tax

Ilyce Glink and Samuel J. Tamkin, Tribune Content Agency Q: My mom recently passed away. She was 91. We sold her condo this year while she was still alive. We put the proceeds from the sale in an…

Ilyce Glink and Samuel J. Tamkin, Tribune Content Agency Q: Your answer to the reader about inheritance taxes in Pennsylvania addressed the questions about federal taxes and a gift tax, but isn’t there…

Ilyce Glink and Samuel J. Tamkin, Tribune Content Agency Q: My wife’s father is close to death and he has moved all of his investments into his bank in the form of cash. He said that was done to help my…

Ilyce Glink and Samuel J. Tamkin, Tribune Content Agency Q: I have an elderly sister in Pennsylvania who owns her home. It is worth around $70,000. She’s in poor health, and my younger sister is named…

The reasons for transferring ownership to children vary. Sometimes parents move out of their homes (or buy a second home), move away and want the home to stay within the family. In other cases, as parents age, they put their kids on title…