How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard, Attorney
Category: Estate Law
Satisfied Customers: 53666
Experience:  29 years of experience practicing law, including tax and estate planning.
Type Your Estate Law Question Here...
Richard is online now
A new question is answered every 9 seconds

I have inherited cash from my great uncle. How much inheritance

This answer was rated:

I have inherited cash from my great uncle. How much inheritance tax will I have to pay? My uncle died in Florida; I live in CT.
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good afternoon. Can you tell me how much money is involved? Thank you!
Customer: replied 3 years ago.

approx. $100,000+. Only partial has been disbursed.

Thanks so much for following up. No, you have no tax or reporting requirements with respect to a cash inheritance for this amount. Neither Connecticut nor Florida would impose any burden on this inheritance; and, there is no inheritance tax at the Federal level either. BotXXXXX can just deposit the money; you will owe no taxes and you will have no reporting requirements.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which will be helpful to you. If I have not fully addressed your questions or if you have any follow up questions, or if I have misinterpreted your questions in any way, please do not rate me yet, but simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5 faces/stars so I can receive credit for helping you today. I thank you in advance for taking the time to provide me a positive rating!
Richard and 4 other Estate Law Specialists are ready to help you
Thank you so much for the positive rating! I appreciate having had the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help! For easy access, my bookmark is:

Related Estate Law Questions