Assuming his IRA is a traditional and nor Roth IRA, you will pay income tax as you withdraw the funds. However, NJ law often invalidates Wills which leave property to ex-spouses if the Wills date back before the divorce. In addition to everything else I mentioned, if your ex-husband ends up needing...Read more »
Usually the answer to this question is yes they can, so long as the proper procedures are followed by the party that didn't get paid. The only upside is that you can never be liable to anyone with a construction lien on your home for more money than you were originally supposed to pay the...Read more »
The general answer is no. Those expenses would instead be deductible on Form 1041 when the Estate files its income tax return. -Jeff Vandrew Jr, Attorney-CPA, http://www.vandrew.com, See Disclaimer: http://j.mp/lUJeMg
More information would be needed to answer this question fully, but I can tell you that it is likely that whatever action is ultimately taken will need to be taken in the Surrogate's office in the county where the will was probated. That would be the first office to call. The foregoing is for...Read more »
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