Asked 3/19/2009
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Is a settlement for a wrongfull death taxable? A friend received an insurance settlement for $100,000.00
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What is a death tax ?
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?
This question also includes the home if one passes does the living partner have to pay a 55% death tax ? at this time the home would just belong to the living partner. also will our children have to pay a death tax if they receive the home if we both pass at the same time? thank you
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