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I have a question: My mother is 65 yrs old, receives only $470 a month from SSI and gets $92 a month from food stamps and is on Medicare. This is all that she lives on period - no other money. She jumps around from daughter to daughter & we all take care of her other needs. Her brother passed away & after all is said & done, the estate has $20,000 to be disbursed to her. Can she receive this money without being kicked off of what little she already has? Or, would it be easier to just have her 16 yr. old niece open up a savings acct and put the money in there? She cant gift it to me because I am ready to file Chapter 13 and we don't want to gift it to my other sisters, for other reasons. I just want to find a solution where my mother gets to have her inheritance, keep it, and not get kicked off of other programs.
1 year ago on Gift Tax: Do I have to pay gift tax when someone gives me money?