QUESTION
Will we each be taxed for our shares of our deceased mother's estate that is to be divided equally?
Asked on Feb 13th, 2016 on Estate Planning - Washington
1 ANSWER
Thomas Edward Gates
You will not be taxed individually. If any estate taxes are due, the estate will pay them before distribution to beneficiaries. Note that federal estate taxes do not occur until the estate is worth more than $5.4M.
Answered on Feb 16th, 2016 at 3:46 AM