California  |  Civil Litigation

Legal Question

Asked on: 6/26/13, 3:28 pm

We are in a personal injury settlement. Do we have to pay taxes on the money we get? If the settlement is a real estate income property, can we set up a non-profit organization foundation and put the property under this foundation's name, can we get benefit from the foundation? For example, if we run the foundation, can we get paid for our time? The foundation's purpose is to help people who were damaged from violence. If we are the people damaged from a violence, can we also get the money from the foundation?

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