Estate Law

Estate law questions? Ask an estate lawyer.

Connect one-on-one with {0} who will answer your question

Am I responsible for my mothers income tax she died and their…

Customer Question

Am I responsible for my...

Am I responsible for my mother's income tax she died and their was no realty or possessions that could be sold. I did inherit cd,s payable upon death and annuities. We had a joint account where i am already including the interest in my income

Submitted: 8 years ago.Category: Estate Law

Show Less

Ask Your Own Estate Law Question

Answered in 8 minutes by:

8/14/2011

Estate Lawyer: Roger, Attorney replied 8 years ago

Roger, Attorney

Category: Estate Law

Satisfied Customers: 32,353

Experience: BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters

Verified

Hi - my name is XXXXX XXXXX I'm an Estate Law attorney here to assist you.

No, you are not responsible for your mother's tax liability. Her estate would be liable for any taxes due, and if there's no money to pay or property to liquidate, taxes just won't get paid.

Any property or assets payable upon death are not part of her estate and would not be subject to estate tax.

Customer reply replied 8 years ago

So I would not have to pay even though I got her cd's which were payable upon death, the money from our joint account, the utility bonds where I was the beneficiary and annuities. There was no house, car, or other tangible possessions.
So I would not have to pay even though I got her cd's which were payable upon death, the money from our joint account, the utility bonds where I was the beneficiary and annuities. There was no house, car, or other tangible possessions.

There is no estate tax b/c her entire Rey Tate was under 600,000 USD. But I am referring tio an income tax bill.

Estate Lawyer: Roger, Attorney replied 8 years ago

Anything that was payable upon death or in a joint account with you bypasses the estate and goes straight to you, so there is nothing in her estate, and you aren't required to pay any of her taxes.

Only money in her estate would be available to pay any taxes.

Customer reply replied 8 years ago

Ok, one more time. There were annuities that I inherited the money as her beneficiary and one bond. Those were not payable upon death like the CD. But I am taxed on the interest as part of my income. So would I have ti return those assets to the estate and then pay her taxes? The money from those assets already passed to me. And I am the executor and the estate will be closed as per my directive.

Estate Lawyer: Roger, Attorney replied 8 years ago

If the money was payable to you upon death, it goes straight to you and your mother should not have to pay taxes because it didn't go into her estate.

Customer reply replied 8 years ago

I must not be making myself clear

1. There were only cd!s payable upon death
2. There were Met life annuities that I inherited as beneficiary
3. There was a N J utility bond that was put ib my name upon mother'sdeath and I received the value of that bond.
4. I am both executor and sole heir

Are. 2-3 considered part of her estate and therefore can be considered assets to pay my mother's personal income tax. As the executor will IRS come after me. These are the 2questions that have not been answered yet. Please repond to these 2 questions. Thanks.

Estate Lawyer: Roger, Attorney replied 8 years ago

I am sorry - I understood that everything your mother had transferred to you immediately upon death (in a joint account or survivorship or as a named beneficiary upon death) so that none of her property actually went into her estate.

If property went into her estate and property was paid from the estate to a beneficiary, the estate could owe taxes on whatever money was held by the estate. If you failed to pay taxes on the estate's money or disbursed money without paying taxes, you can be required to recover money disbursed to use to pay taxes - if any taxes are due.

However, with all of the estate tax exemptions, it is likely that the estate would owe no taxes.

Customer reply replied 8 years ago

There's no estate tax owed at all. I am referring to my mother's INCOME tax
If she owed INCOME TAX. NOT estate tax , would the estate have to pay that tax. Would the estate have to pay my mother's PERSONAL INCOME TAX.

There is no issue re estate tax b/c the estate was well under the taxable thresh
Hold.

Estate Lawyer: Roger, Attorney replied 8 years ago

If there was unpaid income taxes due at the time of her death, the assets of the estate would be subject to that lien and the lien would have to be paid just like any other debt of the deceased at the time of the person's death.

If the estate has enough money to pay these debts, they must be paid in full; and if not, the money must be used to pay on a pro rata basis.

Roger, Attorney

Category: Estate Law

Satisfied Customers: 32,353

Experience: BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters

Verified

Roger and 87 other Estate Law Specialists are ready to help you

Ask your own question now

Estate Lawyer: Roger, Attorney replied 8 years ago

Sorry for any confusion. I obviously misunderstood what you were looking for.

However, you are not personally liable for the debts, but as executor, you would have to see that the estate pay this and other debts of the estate.

Was this answer helpful?

Yes

How JustAnswer works

Describe your issueThe assistant will guide you

Chat 1:1 with an estate lawyerLicensed Experts are available 24/7

100% satisfaction guaranteeGet all the answers you need

Related Estate Law Questions

MY SISTER INFORMED ME THAT the invested monies are in

MY SISTER INFORMED ME THAT the invested monies are in Annuities not CD's. She said they are 5 year term and the mature in 9/20. Can these be liquidated without penalty?… read more

Richard

Owner

Doctoral Degree

53,741 satisfied customers

My dad died. He named s children beneficiaries of s IRA,

Hello. My dad died. He named his children beneficiaries of his IRA , CD's. His spouse ( who is not our mother) is claiming these are to be part of the estate as "non probate transfer" assets and there… read more

RayAnswers

Attorney

Doctoral Degree

6,613 satisfied customers

My mother died in June, 2015. She had checking and savings

My mother died in June, 2015. She had checking and savings account that totalled about $105,000. My sister had right of survivorship on those accounts. Our attorney told us that was not part of the es… read more

Barrister

Attorney

Doctoral Degree

6,741 satisfied customers

My ex husband were married for 23 years and we continued to

My ex husband were married for 23 years and we continued to share a joint bank account and payed our life insurance policies through this account. I was named as his beneficiary prior to our divorce a… read more

RayAnswers

Attorney

Doctoral Degree

6,613 satisfied customers

I am the executor of my mothers estate and sole beneficiary

I am the executor of my mother's estate and sole beneficiary in her will. I do have a half-brother who was abdopted out as a baby. I'm the beneficiary of two annuitites that are not subject to probate… read more

Ely

Counselor at Law

Juris Doctor

1,867 satisfied customers

estate qualifies as a small estate [under 100,000.00] and will

estate qualifies as a small estate [under 100,000.00] and will avoid probate. There are no living survivors [husband or children]. We were friends, are executors of the estate and shared a joint check… read more

RayAnswers

Attorney

Doctoral Degree

6,613 satisfied customers

The situation is: Mother-in-law in poor health age 101 confined

The situation is: Mother-in-law in poor health age 101 confined to a dementia unit. My wife has legal power of attorney and pays her bills etc. through a joint checking account. The estate consists of… read more

Barrister

Attorney

Doctoral Degree

6,741 satisfied customers

Question: My wifes mom passed away on December 27th of

Question: My wife's mom passed away on December 27th of last year. As a surviving daughter, what tax liabilities does my wife and her sister, both face (State of Florida and Federal) as sole and equal… read more

Thomas McJD

Attorney

Doctoral Degree

3,170 satisfied customers

My father passed was a PA resident and resided in bucks county

My father passed was a PA resident and resided in bucks county pa at the time of his death. His only tangible property was his clothing and households goods. He had pension plans (one that only paid u… read more

Loren

42,458 satisfied customers

My mother is deceased and her home is in foreclosure. Her name is XXXXX XXXXX one listed o

My mother is deceased and her home is in foreclosure. Her name is XXXXX XXXXX one listed on the mortgage. My father is still residing in the home. My brother and I were listed as beneficiaries on her … read more

Roger

Attorney

Doctoral Degree

32,353 satisfied customers

NC GENERAL STATUTES 30-3.1 RIGHT OF ELECTIVE SHARE VERSES NC

NC GENERAL STATUTES 30-3.1 RIGHT OF ELECTIVE SHARE VERSES NC GENERAL STATUTES 53-146.2 PAYABLE ON DEATH ACCOUNTS TO SOMEONE ELSE BESIDE THE SPOUSE. THE PART THAT STATES (3) UPON MY (OR OUR) DEATH THE … read more

lwpat

Doctoral Degree

6,615 satisfied customers

I and my sister are trustees of my mothers Lifetime Irrevocable

I and my sister are trustees of my mother's Lifetime Irrevocable Trust (though 4 of us are the beneficiaries of the trust). It is a Grantor Trust. My mother is in a home for dementia care and we just … read more

John Legal

Doctoral Degree

3,418 satisfied customers

I am the beneficiary of my mothers variable annuity. Purchased

I am the beneficiary of my mother's variable annuity. Purchased for 200k, it is now worth 350k. She has never made systematic withdrawal from her account, and has no plans to do so. What taxes can I e… read more

John Legal

Doctoral Degree

3,418 satisfied customers

After my mother died several years ago, my dad converted their

After my mother died several years ago, my dad converted their CDs to joint ownership with me. I have full joint ownership rights to cash in the CDs now, but I have not touched them, of course. I am a… read more

Daniel P.

Managing Attorney

Juris Doctor

2,741 satisfied customers

Heres the situation In Iowa, my dad remarried after my mothers

Here's the situation: In Iowa, my dad remarried after my mothers death and died intestate. He had a prenup written before the wedding (stating my Dad's 75% would be passed on to his 2 sons, my brother… read more

Phillips Esq.

Attorney

24,709 satisfied customers

How much will I have to pay on money I received as an inheritance

How much will I have to pay on money I received as an inheritance from my mother? She passed on in October 2009. So far I have received money from 4 accounts not subject to probate. one account was an… read more

Loren

42,458 satisfied customers

My Mother has 2 CDs of equal value (under 50K each) one for

My Mother has 2 CD's of equal value (under 50K each) one for me and the other for my brother. They are " payable upon death " to each of us. She also owns a house in her name only which will be divide… read more

lwpat

Doctoral Degree

6,615 satisfied customers

I inherited my cousins IRAs, annuities, company death benefit

I inherited my cousin's IRAs, annuities, company death benefit and checking account as beneficiary. He lived in NJ and died in NJ but also had a house in VA. The attorney is in NY; accountant in NJ an… read more

Ellen

Attorney

Doctoral Degree

20,888 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer ar Show More

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

JustAnswer in the News:

What Customers are Saying:

My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns.
Loretta TIllinois

Thanks Adam!! - A very direct and understandable response - you have been a great help!
Happy CustomerEllicott City, MD

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!
Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.
EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.
MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.
Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!
ElaineAtlanta, GA

< Previous | Next >

Meet the Experts:

Thomas McJD

Attorney

3,170 satisfied customers

Wills, Trusts, Probate & other Estate Matters

Barrister

Attorney

6,741 satisfied customers

19 yrs estate law, real estate. Wills/Trusts/Probate

RayAnswers

Attorney

6,613 satisfied customers

Texas lawyer for 30 years in Estate law

Ely

Counselor at Law

1,867 satisfied customers

Fully licensed attorney in Texas in private practice.

RobertJDFL

Attorney

1,618 satisfied customers

Experienced in multiple areas of the law.

P. Simmons

Attorney

1,335 satisfied customers

12+ yrs. of experience including estate law.

ScottyMacEsq

Attorney

1,334 satisfied customers

Licensed Texas General Practice Attorney

< Previous | Next >

Show MoreShow Less