what would you say to your parent?
6 years ago
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Comments (16)You may wish to read the link below to get a better understanding of family gifting. Many people do not understand the gift tax is cumulative, and no tax is triggered until the total gifts exceed the lifetime exclusion benefit (which changes year to year, until 2010 when Congress must decide whether to re-install the estate tax AKA "death tax", modify it, or eliminate it). If your parents' estate is under $2M this year and you are the sole heir, that is the total lifetime amount they can gift to you without triggering taxes. Again, I emphasize this life changes every year, so it's wise to keep an eye on this going forward, particularly if you are NOT the only heir (so your proportion of the overall estate will limit the total lifetime gift amount). Per the IRS website: "If you give someone money or property during your life, you may be subject to federal gift tax. The money and property you own when you die (your estate) may be subject to federal estate tax. The purpose of this web page is to give you a general understanding of when these taxes apply and when they do not. It explains how much money or property you can give away during your lifetime or leave to your heirs at your death before any tax will be owed. Most gifts are not subject to the gift tax and most estates are not subject to the estate tax. (Only about 2% of all estates are subject to the estate tax). Generally, you do not need to file a gift tax return unless you give someone, other than your spouse, money or property worth more than the annual exclusion ($11,000 in 2002, 2003, 2004 and 2005; $12,000 beginning in 2006) for that year. Although a return may be required, no actual gift tax will become payable until the cumulative lifetime taxable gifts exceed the applicable exclusion amount. The donor is primarily responsible for the payment of the Gift Tax. To reemphasize: Most relatively simple estates (cash, publicly traded securities, small amounts of other, easily valued assets and no special deductions or elections or jointly held property) with a total value under $1,000,000 and a date of death in 2002 or 2003, under $1,500,000 and a date of death in 2004 or 2005, and under $2,000,000 and a date of death in 2006 or 2007 do not require the filing of an estate tax return. " Here is a link that might be useful: Gift tax and estate tax explanation...See MoreIf you were a buyer, what would you say about this house?
Comments (28)Thanks, everyone. We've already started working on the dining area issue. It was nearly unanimous here that it would be a big issue, as we suspected. Our feedback is very good on the inside of the house- these pictures eliminate the scope I guess and IRL the rooms are actually larger than what you find in many new builds nowadays. All of the bedrooms are 12x14 or 10x14. So not tiny by my standards anyways, although a larger master is certainly desirable. One of the most common negative feedback remarks we've gotten is something we can't do anything about- the location. Although we are on the outskirts of our community, we have a commercial building on the south side of our fence, and our neighbor behind us has a huge ugly shop (that's the big metallic thing). We should have planted a green screen back there when we first bought, but didn't know it would be such a distraction for future buyers. This would be a starter home- it was for us! But nice schools, nice backyard, TONS of storage (basement, standing height attic over garage, oversized brand new garage). Anyway, thank you for lending me your eyes. We are staging a dining set to the right of the couch, but behind where the camera shows. There's a piano there now, which we are going to move out. We're going to borrow a small dining set from some friends just to show the possibilities. Plus, we're going to leave the bistro table in the kitchen which would then show two seating areas for dining. Packed up more stuff already, and hubby's looking for different stand for t.v. Thanks, all!...See MoreWhat would you say is the most UNDERplanted tree for your area?
Comments (19)Lacey...that's an interesting observation. Because plain-old soulangeana and stellata, at the very least, seem to be totally standard landscape material anywhere along the I-95 corridor, as far as I can tell. Probably one of the top 5 flowering trees in SE PA/CB/Balto/DC area gardens if considered as a genus. I second hairmetal's listing of Abies that will grow here. My Abies firmas are loving the wet year and one of them, I am not kidding, looks like it will easily put on 4' of growth this year. Yet they have not been particularly bothered by the years with bad dry spells in summer (2010, 2011, and 2012) coping with bone dry soil only a year after they were planted in 2009. Yes, I have a high water table and moisture-retentive soil and no, I'm not saying everyone in the high plains and desert southwest should start planting Abies firma! But they are not as fussy as might be expected. And as for other species, though I don't want to see an Abies pindrow planted at every gas station, they are very exotic looking to my eyes at least and would certainly excite more collectors of the rare and uncommon if only they knew about it. (The big 15 footer at the old Dilworth Nursery stood out in a whole field of exotic conifers like a glistening, plastic seeming subtropical outsider. Wow...if I'd known the nursery was going to be destroyed, I would have paid a pretty penny to move that onto my property. I sure hope it didn't end up as mulch but I have a bad feeling it did.) And though I doubt it's quite as hardy as Abies firma, it's proving to be similarly easy to grow. Mine were perfectly fine after these winters but I wonder how the one growing at the Arnold Arboretum fared. As an added benefit it is fragrant while Abies firma is not. Other promsing Asian firs include A. delavayi. Could be too soon to say for sure but my own-root ones seem to be doing well in these recent wet, muggy summers. Spruceman's big grafted one in his dry, windswept upper Shenandoah valley garden was a little stressed out appearing, but the overall look of the plant was noteworthy: somehow *very* alpine looking. Even more so than certain Abies koreanas I've seen in Midatlantic area gardens. Probably looking like what a straight species A. lasiocarpa might look like. A species which is ungrowable for most of south of the Great Lakes and New England....See MoreDo you do things as your parents or others taught you, or differently?
Comments (80)I don't think I do too many things like my parents did. My Mom wasn't much of a cook but she was a wonderful baker. She made the best pastry for her butter tarts, lemon meringue pies and she was known for her date nut loaf. People still talk about her pastry. Me, I can't make a good pastry for the life of me. I don't think I do anything the same way my Dad did except I am stubborn like he was. My parents split up when I was a teenager still in school and my younger brother and I stayed with our Dad. As I got into my 20s I realized I didn't want to be chief cook and bottle washer so I moved far across the country. I moved back when I was offered a good job. My Dad had moved out of the house and my younger brother was in the process of moving so I had the house to live in rent free. Eventually, after a few years my Mom left the situation she was in and since she was half owner of the house she moved back home. Here I was at 30 years old having a Mother again telling me what to do or what time I should be home. Over the years I had changed the house, redecorated to my taste, etc. She moved back home and put everything back the way it was years before she had left us right down to the same wall paper and frilly princess curtains in the kitchen window. I sure don't do the things the way my Mom did. I stayed with her because it was the easiest option and I was travelling all the time so wasn't home much. Then she got Alzheimer's and it was decided by the "sisters" I would be the one to care of her. I think the only thing I did that was the same as my Mom was to decorate the mantle at Christmas the same way with the same items she had used since we were children. Over the years I still use some of the items but have added and taken some away but in general it is still my Moms way of decorating the mantle. I think I do more things like my Aunt who taught me to cook. I still peel the tough skin off of broccoli stems like she did and that always makes me smile whenever I do it. My Aunt's daughter moved in with me a few years ago and she asked me why I peel the broccoli, I tell her that is how her Mom taught me to prepare it among other things she taught me....See More- 6 years ago
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