Hi all!
A son here with a question on behalf of my mother.
So my great uncle just passed away and my mother is looking recieve around $150,000 from some stock he had accrued over the years.
The problem is that she lives in a lower income apartment complex for 65+ and in order to remain a resident she has to be below a certain annual income.
So my 2 questions:
- Will receiving this money (most likely in the form of a check or wire transfer) impact her ability to stay in where she lives?
- If I have the check signed over to me, How will this impact my taxes?
I'm not sure if this is relevant, but the money is being taxed before it is being distributed.
Basically trying to find the best option that doesn't have the money taxed again or put my mother i jeopardy of having to move.
Thought?
Thank you all in advance for your support
Submitted June 22, 2017 at 07:54PM by HealingCycles http://ift.tt/2t0a6Ie
