Legal Question in Wills and Trusts in California

California estate has only asset of a building that was sold on a purchase contract. Only heir has been asked by buyer to pay-off the building. Does the heir have to pay any federal or state tax?


Asked on 2/23/12, 9:49 am

1 Answer from Attorneys
Scott Jordan Jordan Law Office

There is no California state inheritance tax at this time. There may be a federal inheritance tax depending on the value of the inheritance. You should speak with a CPA familiar with inheritance tax issues.

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Answered on 2/23/12, 10:03 am


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