Hello, If two sisters own a house and one dies does the other sister have to pay an inheritance tax on the house since she will now be the owner. Thank You.
Answer
you will need to talk to an attorney and give the attorney the documents, to get an answer you can rely on.
Answer
I depends on how title to the property is held in the deed and on State law. Estate tax is a federal tax levied on the estate as a whole. Inheritance tax is a State tax that depends on the residence of the beneficiary. Lawyers who handle estates can tell you what the laws are for each State.
See also: http://info.corbettlaw.net/lawguru.htm
No comments:
Post a Comment