We’ve been back to America for two years now. Had another kid, bought a house and just started to settle down and we get the dreaded call from Taiwan. My wife’s father is in a coma and isn’t expected to survive.
My wife is returning to Taiwan with the baby as soon as we get her a passport.
Her parents were not rich but they acquired a few rental properties over the years. The properties were in her father’s name and here lies my question.
Will my wife’s mother have to pay inheritance tax on the property once her husband dies if the property is not in her name (so far everyone says yes and it could be as high as 40%)
Is there a way to transfer ownership of the property without such a high tax.
What about unscrupulous funeral directors? I heard that they often pressure the widow to have elaborate and very expensive funerals. Has anyone experienced this?
I can’t believe they would tax a widow 40% of her assets after her husband dies. I was told there is a way to put her name on the deed but her husband is in a coma and is unable to sign anything.