QUESTION
Who pays the inheritance in a property with life estate.
Asked on Jan 14th, 2014 on Estate Litigation - New Jersey
More details to this question:
My mother a New Jersey resident died leaving a house in Pennsylvania with a life estate to my brother and remainerderman interest to the other sibling. Who is liable for the non resident inheritance tax charged by the state of Pennsylvania?
1 ANSWER
2 Awards
The answer depends on what the will says. if the will states that all estate expenses, including taxes, are to be paid from the estate, then that inheritance tax must be paid from the assets of the estate. If the will is silent as to who pays taxes, an argument could be made that the person that receives the bequest pays the taxes due on that bequest.
Answered on Jan 15th, 2014 at 3:30 PM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship