Ask a Question

Get free answers to your legal questions from lawyers in your area.

Lawyers, increase your visibility by answering questions and getting points. Answer Questions
Questions Answered by Smilie Gregg Rogers
1 Answer | Asked in Tax Law for Massachusetts on
Q: My father gave me and my sister his house before he died do we have to pay capital gains if we sell it
Smilie Gregg Rogers
PREMIUM
Smilie Gregg Rogers pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on May 18, 2013

Property transferred by gift usually require the recipient to use the Donor's income tax basis. That carryover basis results in the preservation of built in capital gains. Had your father devised the property to you and your sister at death, you likely would have received a basis reflecting... View More

1 Answer | Asked in Probate for Maine on
Q: Can an heir with "power of attorney" take the property and assets of bank accounts legally before death?
Smilie Gregg Rogers
PREMIUM
Smilie Gregg Rogers pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on May 18, 2013

If the power of attorney is effective (powers are sometimes conditioned on events (such as a determination of lack of capacity) and are not therefore always immediately effective) and the principal did not communicate any revocation of the agent's powers to the agent, then it is likely that... View More

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.