Legal Question in Wills and Trusts in California

Inheritance

I was recently contacted by my biological family and I was told that m biological mother had left me some money in her will. I am wondering if I will be taxed on this money here in the US. She was living in Australia at the time of her death. I will know more about what she left for me but until then I am just checking on how I should handle my inheritance. Would it be better to keep the money in Australia and drawl from it? Do I put it in my bank account? If you can guide me in the right direction I would be greatfull.


Asked on 4/25/07, 10:43 pm

1 Answer from Attorneys
Jeb Burton The Burton Law Firm

Re: Inheritance

The US is in a treaty with Australia with regards to estate tax, but this has some complications depending on the size of the inheritance. As to your other questions...this is an issue you should be discussing with an attorney face to face, so that they can look over the issues. Furthermore, the laws and issues relating to you last few questions are being challenged at the moment. I would be suprised if anyone if any attorney is going to advise you to this effect over a public forum.

Read more
Answered on 4/26/07, 11:37 am


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in California