We can advise your dad with regard to the options available. Your dad should understand that the taxes must be paid. We can provide alternatives for your dad that will allow for the payment of the taxes. It would be most helpful if you prepared a very simple balance sheet. on the left you would put your dad's assets. on your right you would put your dads liabilities. that would be a good starting point. In addition, please prepare a timeline of the events that led to where we are now. you can also set for us any options for payment of the taxes. For example, a relative. For example, a reverse mortgage. Please email the balance sheet and timeline to me this evening.I will review. Please call and we can discuss.
Answered on Feb 11th, 2015 at 2:40 PM