Asked 10/24/2011
|
Inheritance tax on a surviorship deed? My husband and I were on my mothers property, she passed away and now the State of Indiana says we must pay inheritance tax, why would we when it was a surviorship deed? |
Answer 1/1 - Submitted 10/24/2011
Many states make exceptions to the joint tenancy with right of survivorship, where the joint tenants were other than spouses.
Also, exceptions are made where the joint tenancy was set up within a short number of years directly prior to death.
Because you were not the spouse of the joint owner who died, you couldn't get the inheritance tax exemption, even though it does avoid probate.
Type your Answer in the box below and post your answer.
Related Questions (Ask a New Question)
My husband's father passed away in 2006. he and his siblings are now going through a sale of property that they have inherited since their grandmother passed. w/ the sale of this property that they have inherited - what kind of taxes will they pay? looking at capital gains - it depends on your...
A father is worried about the death tax taking 55% of the value of his home when he dies. he is cared for by his daughter who lives with him. can he sell the home to his daughter or make her a joint owner in the home while he is still alive to keep from paying the death taxes upon his passing?
Where do i go to find inheritance tax rates and how do i determine the state death tax. i live in texas.
|
My husband's father passed away in 2006. he and his siblings are now going through a... |
|
Can a father sell his home to a family member before he dies to avoid death tax on the home? A father is worried about the death tax taking 55% of the value of his home when he dies.... |
|
Where do i go to find inheritance tax rates and how do i determine the state death tax. i... |
|
Federal or state taxes on estate of $60k? My mother died on july 6, 2008, and after all expenses have been paid, her estate will be... |
|
Will we pay a tax on death benifits starting in 2011 This question also includes the home if one passes does the living partner have to pay a... |
|
What changes are expected after 2010 death tax. |
Ask A Question
Ask a new question about
Death Tax: