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My mother-in-law inherited $35,000 from her brother who died in Florida. She lives in New York. I know that Gov. Pataki signed a tax relief bill effective Oct. 1. 1998. Does this mean she doesn't have to report this as income since she received it after this date?
Also she has advanced Alzheimers and my husband has power of attorney. Her only sister is dying and she will inherit a considerable amount. Is there anyway for her to waive the inheritance and let the money be divided among her children? We take care of all her needs but fear that her other children may not like my husband having control.
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