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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 118780
Experience:  Attorney experienced in commercial litigation.
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My mother and I are (were since she died) owners of a modest

Customer Question

My mother and I are (were since she died) owners of a modest ca. $13,000 amount of Con Ed stock. My broker requires an Inheritance Tax Waiver. I live in Florida which apparently does not require this. How shall I communicate this to my broker?
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Your broker can only require what is required by state law. Since FL does not provide an income tax waiver, you cannot provide what he is asking, the tax assessor will not give you one. You need to send them a letter telling them that the state of FL does not have such a waiver and as such you cannot obtain one and he needs to check with his legal department who will verify that. Tell him if they do not release the money, you will have to take legal action for their bad faith denial and seek damages plus attorney's fees.