Estate Law Questions? Ask an Estate Lawyer.
Thanks for your question and good morning.There are likely no federal inheritance taxes here unless the value of the etstae exceeds$5.25 million.Above that taxes would be due.http://corp.bankofamerica.com/business/bi/perspective/resource?p_a_id=668579&g_id=10157&cm_mmc=GCB-Integrated-_-MSN-Partners-_-fiscal%20cliff-_-May%202013%20-%20Still%20on%20a%20Cliff%20-%20Fiscal%20Cliff%20-%20Phrase%20SPThere may well be California trust state taxes due.Here is a great article that goes over these.They would not be inheritance taxes but taxes nonetheless.
http://www.lexisnexis.com/community/estate-elderlaw/blogs/trusts/archive/2010/08/01/california-income-taxation-of-trusts-pitfalls-and-considerations-for-settlors-beneficiaries-and-trustees.aspxYou may well want to contact your tax preparer or CPA to go over any state of California tax liabilities here.As you can see California may impose taxes in some situations where there is disbursement from a trust.It has been my pleasure to assist you today.Please let me know if you have more information.Thanks again.
I hope that you will be so kind as to leave a positive rating. If you do have any additional questions about my answer please click the "Continue Conversation Link" so I can provide you with a fully satisfactory answer. Please be aware that any rating of 1 or 2 is reflected as a negative rating and I receive no credit for my answers.This communication does not establish an attorney-client relationship.Information provided here is not legal advice. Rather it is simply general information.
would it help if I got married. the value of the is 1.5million
One more question, If I married him for I receive his social security benefits and his pension, Thank you