Asked 2/2/2010
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I reside in the state of Arkansas. My mother's estate will probably be valued at no more than 600,000 to 700,000 at the time of her passing. Should I be concerned about inheritance taxes? It is my understanding that states are phasing out inheritance taxes and I do not believe that my state even has them. It is also my understanding that the limit for Federal estate tax is currently 1 million, 50 thousand. Please advise. |
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