Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Taxes
Finance Discussion Forum

 I haven't filed my taxes since 2004 ?
I haven't filed my taxes since 2004. I always got a w-2 but I never had to pay into it. I always got a refund back. I never made over 3,000 dollars in any of those years. My boyfriend always ...


 How can I make my CPA happy?
I itemize deductions and have hundreds of receipts. My CPA always complains that I send my return in too disorganized to complete in a timely fashion. What can I do to organize more efficiently for ...


 Do you save on taxes if you are married or have domestic partnership as opposed to being single middle-income?
Federal and state level (New York- NYC)
What are the savings... doe sit pay (in taxes) to get married???...


 Recently i inherited a large sum of money from my deceased grandparents. in calif. is there a inheritance tax?
...


 I am single claimed HOH have 1 child under 17 and received 600 should it have been 900 from IRS?
...


 W-2 situation. Please help!?
I was supposed to get my W-2 in the mail, but it never came. I found that I could check it up online so I did, but now W2 eXpress changed the store information so my login and password don't ...


 I have to pay $415 a month on child support on a $1200 a motth income how can I lowered this?
...


 Can my spouse claim me as a dependent?
I was wanting to know if my husband could claim me as a dependent, because I don't have a job and current attending school. I can't seem to find the information on the irs site. Any info ...


 Can I sue the government (IRS) for emotional stress?
every year I get splitting headaches at tax time because of the unfairness and unnesassary paperwork. Then I worry for the next month that I will get audited or that I paid too much. Is it normal ...


 Can someone ever deduct a capital loss against a traditional ira?
are there any provisions in the tax code that would allow me to deduct a capital loss against a traditional ira account? say some one had purchased an american common stock at it's high's ...


 How can they?
How can a company take taxes out of your paycheck if they didn't have you fill out any tax forms??...


 In 1988-1987 I worked head of house hold single parent never filled taxes by that time?
In 1987 and 1988 I worked then i moved to another state but never filled out the taxes for those years, is there a way i can claim it or is too late by that time i was single and had 2 kids....


 Is it true that a "full-time student" will get all of the taxes they pay back?
I am 18 years old and am currently attending college with 14 credit hours per semester; I am also working around 20+ hours per week. My parents claimed me as a dependent for the 2007 tax year, but I ...


 Who should claim our daughter in our taxes?
So my fiance has been working since Oct of 07 steady income but not as much as we will like he will be filling a years worth of 12,000 (roughly). I have been working since July of 08 and will be ...


 Who should claim the baby?
I live with my boyfriend. We are kinda disagreeing about who should claim our son, who was born in September. I am not working right now and he is. I only worked about 3 months this enitre year but I ...


 Can you file taxes as a college student?
I havent worked since December of 2006 and I was in college from that time on. Am I eligible to receive an income tax check because i received income from refund checks from school?...


 How do i report my Ex to IRS and have FAST ACT?
she has not work for the last past 6yr also she is on state's funds for our kid's medical she has denied me visitation, and getz away with it, because her paid lawyer. I am unable to find ...


 I got over paid from my fed employee.now i owe irs.i havent settle with them can they take my refund automatic
i got over paid from my previous federal employee.now i owe irs a huge amount.i havent settle with them. can they take my refund automatically?...


 When do employers have to have tax info to employes?
...


 How do I receive a better Federal Income Tax Refund being single?
I'm single with no dependants and I don't own a home. This last year I grossed $7500 and I do have a side business but didn't make more than $2000 doing that. So what can I do? Any ...



boss girl
Before my mother entered a nursing home she signed a deed transferring title to her personal residence to me?
before my mother entered a nursing home she signed a deed transferring title to her personal residence to me her only child, i have never filed the deed with the county clerk's office and continues to pay the property taxes in my mother's name. my family and i are the only occupants of the property, what are the consequences to my action?
                     
 




mayberry_lady1
Rating
rules vary by states, but if the deed was transferred within a recent period ar still subject to scrutiny before Medicaid comes into play.

Congress has established a period of ineligibility for Medicaid for those who transfer assets. This period of ineligibility is determined by dividing the amount transferred by what Medicaid determines to be the average private pay cost of a nursing home in your state. However, state Medicaid officials will look only at transfers made within the 36 months for transfers made prior to February 8th, 2006, and 60 months for transfers made on or after this date. Thus, if you can plan ahead and make transfers well in advance of needing Medicaid (up to five years, depending on when you are transferred the money), the transfers will not affect your Medicaid eligibility."

the site:
http://www.mortonelderlaw.com/medicaid-planning/medicaid-planning.html


ninasgramma
If you are not the owner of record (and it seems you are not), then you cannot deduct the real estate taxes.

Was the deed properly witnessed and notarized? This is more a legal issue than a tax issue. Ask the Recorder of Deeds in your locality.


ninainpa
I'm a Realtor in PA and my thought is that you have no rights to the property until there is an actual transfer of title. Are you her power of attorney? Is the property completely paid off? I would contact the title company that originally issued her title policy to see how this should be handled. Good luck.


bostonianinmo
Either way the property can be taken if your mother is dependent upon Medicaid for the nursing home costs., assuming that she transferred it to you less than 5 years prior to her needing public support. Failing to file the deed doesn't impact that. The state can and probably will attach the property to help pay for her care.

If the transfer took place more than 5 years prior to the need for public funds, failing to record the deed could be a serious error on your part. The state might successfully argue that no actual transfer was intended as evidenced by your not recording the deed and that it was still your mother's property and therefore subject to attachment for the costs of her care.

Short answer is this: You need to discuss this with an attorney.


billy
Rating
The nursing home may take your property since legally it still belongs to your mother. They can still take it for 3 years after it has been transferred to you if they want to. Something in the Medicaid laws says to be eligible for Medicaid, which I guess she is using to pay her bill at the nursing home, the nursing home can confiscate any property that was in her name for up to 3 years prior to being admitted to the nursing home. Thats in Ky. anyway, your state may be different.


TinkerMel
Rating
My grandfather entered a nursing home in Maryland 2 years ago and recently passed away. He also signed a deed for his property turning everything over to my uncle. However, the nursing home still has rights to take the house and sell it to pay for the expenses my grandfather incurred while he stayed there. The paperwork had to be filed a couple of years before he entered the home and it wasn't, so if the nursing home decides to pursue the matter, they can take the house from my uncle and do with it what they want.

I would say to check with someone who knows more about the legality of the matter and see what you need to do to avoid losing the property.

Good luck.


walkinandrockin
Rating
I would file the deed, it helps to substantiate what has taken place. Hopefully, the signature line has a date on it which can help to establish when this was intended.

Being in a nursing home does not necessarily mean that she can not think with clarity. If she still has all of her faculties, then you should have no issues, but record the documents right away. If her mind is not fully capable, then the intent could be questioned. When she did sign it - was she fully capable? Were there witnesses to the transaction, especially a notary? These help.


wolvie
first off, when did your mom go into the nursing home?...if its been awhile you might have to pay back taxes that u OWE minus what u have paid under her name so far...and if she has not been in the nursing home that long, quickly take the deed to the county clerks office, and let them know that your mom is no longer the owner of that house! its better to be safe than sorry!


sdragoo
Rating
My mother was diagnosed with dementia and has just been admitted to a nursing home from a hospital where she was treated for mengeoencephylitis and seizures. She is receiving physical therapy and her doctor told me, her daughter, that she will not be able to live alone again. Prior to her hospitalization, my mother allowed my brother who is a chronic alcoholic to stay at her home for the past 4 years. His being there has exacerbated her symptoms, and has posed a health and physical danger to my mother. My sister and I have been made co-guardians of my mother and are allowed to take care of her medical and financial needs as an emergency. My question is that if my mother cannot return home and must live in teh nursing home, can my sister and I ask my brother to move? He has taken advantage of my mother both financially and physically. He has no income except for a few dollars a week working as a janitor at a bar. He is drunk almost continuously and has almost fallen on my mother at her home. He has trashed her home, spilling food and drinks all over the floors, takes food into his room and leaves it for roaches to find. In short, he is using my mother for a meal ticket, paying nothing to live off her and doing absolutely nothing around the house to help out. Your help in getting him out of the house is appreciated.


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.024
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy