Thank you. Then, basically, there would be no estate or inheritance
tax. Rhode Island does not have an inheritance tax. But, it does have an estate tax
, but as of 2013, the exempt
amount is $910,725. Since the value of her interest in the house is less than that, there would be no Rhode Island estate tax unless the rest of her estate caused her estate to exceed the exempt amount. But, this tax is on the estate, not you as the recipients of the inheritance. There is no Federal inheritance
tax and the exempt amount at the Federal
level is $5,250,000.
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