Posted on: 20th Apr, 2010 11:11 am
After my mother dies, will my sisters and I still need a quick claim deed? Her house and accounts are in a trust.
Will we have to pay inheritance taxes on the house or anything else she leaves us? I thought putting it all in the trust would save us from taxes.
Will we need to use a lawyer at that time of tranfer?
Thanking you!
Will we have to pay inheritance taxes on the house or anything else she leaves us? I thought putting it all in the trust would save us from taxes.
Will we need to use a lawyer at that time of tranfer?
Thanking you!
Hi gmg,
It is better to contact an attorney and take his opinion while you transfer the property to your name. As far as I can understand, the inheritance taxes would depend upon the amount you inherit from your mother. However, you may have to pay some taxes. In my opinion, you should have a word with your tax adviser and take his opinion in this regard.
Thanks
It is better to contact an attorney and take his opinion while you transfer the property to your name. As far as I can understand, the inheritance taxes would depend upon the amount you inherit from your mother. However, you may have to pay some taxes. In my opinion, you should have a word with your tax adviser and take his opinion in this regard.
Thanks