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ScottyMacEsq
ScottyMacEsq, Attorney
Category: Estate Law
Satisfied Customers: 16091
Experience:  Licensed Texas General Practice Attorney
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Federal inheritance tax

Customer Question

federal inheritance tax
Submitted: 1 year ago.
Category: Estate Law
Customer: replied 1 year ago.
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Expert:  ScottyMacEsq replied 1 year ago.
Thank you for using JustAnswer. None. There's no Federal inheritance tax. There would be an estate tax assessed on the value that exceeds $5,340,000 (the estate tax exemption) in the amount of 40% of that amount (so the Federal estate tax would be $1,944,000 IF $10.2million is the value of the estate). But if $10.2 million is the value of the amount actually passing to you, then there is no tax on that amount that goes to you. It's only assessed against the estate, not the heir. Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, ***** ***** luck to you!
Expert:  ScottyMacEsq replied 1 year ago.
Did you have any other questions before you rate this answer?
Expert:  ScottyMacEsq replied 1 year ago.
Are you there? Please note that I am still here, awaiting your response or rating... (please note that rating closes this question out, so if there's nothing else, please rate it so that I can assist other customers that are waiting for answers to their questions)
Expert:  ScottyMacEsq replied 1 year ago.
Should I continue to await your response, or may I assist the other customers that are waiting?
Expert:  ScottyMacEsq replied 1 year ago.
My apologies, but I must assist the other customers that are waiting. If there's nothing else, please rate this answer. Please note that I don't get any credit for the time and effort that I spent on this answer unless and until you rate it a 3, 4, 5 (good or better) AND press the "submit" button, if applicable.▼ RATING REQUIRED! ▼ Please don't forget to Rate my service as OK Service or higher. It's only then I am credited.If you feel that I have gone above and beyond in this answer (my average answer is about 10 minutes) bonuses are greatly appreciated. Thank you, ***** ***** luck to you!

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