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Money and Finances
Reply to "Tax question on income from irrevocable trust"
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[quote=Anonymous]You will stop the foreclosure but what hapens after that? How are your parents going to pay the remaining portion of the mortgage? What are the chancesof them being in the same situation a few months to a year from now? How will you handle the tax implication and obligation you will now be responsible for? What happens if you use the money to stop the forclosure and then your parents have a major health issue (not wishing it to happen)" How will you handle that? [/quote]
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