Friday, 21 March 2014

If I give land away, how long do I have to live before it's not taxable by Indiana estate tax?

Question

If I give land away, how long do I have to live before it's not taxable by Indiana estate tax?



Answer

Once you give land away, by proper and legal transfer, it is no longer part of your estate and would not be subject to estate tax. However, you can retain no incidents of ownership, such as joint tenancy, life estate, trust power or otherwise.



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