Dear Cynthia: You certainly have a full plate. While it might be charitable to put the blame on your husband's condition, it would seem that well before he was diagnosed with cancer he was, at the very least, inconsiderate by allowing his insurance to lapse, having no health insurance and borrowing without your knowledge. Before you do anything else you should immediately see an attorney and determine what your best course of action will be. You have not mentioned whether he has a will, but it may be that a divorce might offer you some degree of protection. Please don't do anything until you have an attorney quickly review your situation. While it might be observed that his sensibilities should receive some consideration, his reply you mentioned in the last line in your note relieves you of that responsibility.
Dear H.L.: I'm a little troubled by the way you phrased your question. You say you want to start a business and that you have looked at franchises. If you are saying that you wanted to start a particular kind of business and have considered a franchise, that's good. If you're just saying that you want any business and you would settle for a franchise, that's not so good. There are a number of books that have been written on franchising. This Web site, http://www.quintcareers.com/franchising--books.html, offers a multitude of books that can direct you through every aspect of franchising. These books are just the tip of the iceberg. Franchising has a great deal to recommend and some things to be concerned of. On the one hand you are learning from someone else's experience and mistakes, on the other you are severely restricted as to creativity and you'll have a partner for life. Please read three or four of these books and publications, then get back to me with more specific questions.
Dear A.D.: Let me disabuse you of a notion. The receiver pays no tax under any condition. You pay the tax as the donor. A tax-free amount that you can give today is $11,000 per year without any gift taxes to be paid. If you wish to give more you can do it over two years, which would double the amount. If you have a spouse, the spouse can give the same amounts, and if the recipient has a spouse, the amounts can be doubled. Other things failing, you also can claim against your lifetime exemption of $1.5 million. This requires some paper shuffling but an accountant can help you.
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