Probate, capital gains and investments (California)
Hello BP,
I have some questions regarding probate. My uncle passed away a few months ago, and my father has been granted executor through probate. My father was already half owner of the property and now assumes the entire property. He plans to sell the property to an investor in San Diego, Ca. and plans to use most of the gains after tax for his retirement fund and is giving me a portion of the funds to start my own real estate investments. So, the questions I have to start are; if he pays capital gains tax on the sale of the property, will I have to pay taxes on the money he is giving to me? Will there be any issues with him bank transefering me 100k to use for business and real estate investments? Or what would be the best route to go about this?