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URL:  https://boards.fool.com/marti-as-is-my-experience-with-lawyers-we-had-a-30897918.aspx

Subject:  Re: Payments On UnOwned Property Date:  10/1/2013  10:10 PM
Author:  brucedoe Number:  119238 of 133017

Marti

As is my experience with lawyers, we had a hard time connecting with the lawyer, and we were never sent anything that said the property had been transferred. When we did connect with the lawyer, she said that she had never received the assessment for the property. We had trouble connecting with the assessor as he was in Florida. As an aside, he assessed the property as worth much more than the tax assessment. So the IRS gift form (910?) was corrected and resubmitted (I guess), but the filing date of the gift of December 28, 2012, remained the same on the paperwork we finally received.

But the fact was that my wife was still listed on the county records we could find online as being the owner until about a month ago.

An added complication was that we moved from our home on February 11 (which was separate from the cottage business) so there was a period of preparing to move, selling assets and paying for the new place, then moving, followed by moving in. The cottage expenses were automatically taken from the property checking account.

The son finally hired his own lawyer who managed to get the property ownership changed on the county register. (He also dissolved the LLC at the son's request.)

I guess the generic question is, if you pay expenses on business property you don't own, can you take those expenses as a business tax deduction?

By the way, changing things with financial institutions is a nightmare, even your address. For example, I have power of attorney over my wife's accounts with Schwab (who has had a stroke), but was told I didn't have the right to change my wife's address though I could do trading and sign checks on the Schwab One account. On an insurance policy, I changed the address for our claims but still got mail transferred from the old address. It turns out that I also had to change the address with the policy department separately. And on and on. Of course, if I was a Pakistani, I wouldn't have all these problems of wealth.

brucedoe
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