QUESTION
Is it possible to get my inheritance to pay for my brothers medical bills?
Asked on Jul 25th, 2011 on Estate Planning - Georgia
More details to this question:
My brother needs to go to a drug rehabilitation treatment center and the cost will be around $30,000. I don't know if my parents can handle the funds to help him and I want to offer up my inheritance to help them with the cost. Is it possible to get to my inheritance with their permission?
2 ANSWERS
Trusts and Estates Attorney serving Jacksonville, FL
Partner at
Law Office of David M. Goldman PLLC
3 Awards
If they will give it to you early, they are free to make a gift. They will need to file a gift tax return to the extent that the gift is over 13000 from each in a single year. On the other hand, you parents can pay for the bills directly and there is an unlimited amount they can give for medical as long as it is paid directly for a descendant (their child)
Answered on Jul 26th, 2011 at 9:14 AM
Glen Edward Ashman
You can't claim an inheritance before a person dies. There's nothing to claim.
Answered on Jul 26th, 2011 at 7:50 AM