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: 55313
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 am a non-resident allien. I own a house in Palm Beach Gardens,

Customer Question

I am a non-resident allien. I own a house in Palm Beach Gardens, FL.
My only two sons are american citizens living abroad.
What inheritance taxes will they have to pay for the house?
Submitted: 2 years ago.
Category: Estate Law
Expert:  Richard replied 2 years ago.
Hi there. My name is ***** ***** I look forward to helping you this evening. They will owe no inheritance taxes. Florida has no estate or inheritance tax. And, on the Federal level, there is no inheritance tax either. So, bot***** *****ne, your sons will pay no inheritance tax. And, the basis of the property gets adjusted to its fair market value at death so that if they decide to sell it, there would be no gain on the sale and thus no tax either. Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). I thank you in advance for taking the time to provide me a positive rating!