No Will

[DUMBDOG]

There will be no problems with capital gains as long as the items are inherited and gifted back to the FIL. The only tax problems that will be involved if it includes a substantial estate subject to estate taxes, either federal or on the state level.

The only problems other that the estate taxes will be the long drawn out probate and the associated costs with it.

 

[rox]

fortyseven,

I'l add a little bitto what Bird has suggested. Sometime in a situation like this the hardest thing is to make the first effort. Since you are the son in law you have a little bit of emotional detachemnt that your wife and FIL don't have. I would encourage you to use Bird's experince. You can probably download a computer Will program right off the internet. Don't ask jsut do it. Make up the will and hand it to your wife. Once it is in her hands, it might be just what she and your FIL and MIL need, something already done, and the paper is already drawn up.

it is like a journey the first step is the hardest. This is something you can help with, something you can do. It is hard for them to call an attoreny make and appointment go back to sign a will etc. Even if the one you get off a computer program isn't perfect it will at least be better than nothing. Hey maybe AARP has something, jsut thought of that. Liek Bird says, he did it and the will stood up and worked. You have very little to loose by not trying this, handing them a drawn up will. The worst that will happen is they won't act on it and you will be out a small amount of your time and money.
At least you will have tried to help.

 

[TheKid]

<font color="blue"> Here </font>is a site that has free wills for all 50 states.