Legal Question in Wills and Trusts in California

Re: Taxes on inheritance money.

The person receiving the inheritance does not have to pay any taxes, but depending on the size of the estate and whether any prior sums have been "gifted" away, the estate may have to pay taxes. Since that reduces the amount of assets in the estate, unless the inheritance is specified as being a certain sum of money and their is enough in the estate to cover that amount, the heirs indirectly are paying the taxes.

Re: Taxes on inheritance money.

No.

Short, sweet and to the point.

Re: Taxes on inheritance money.

No.

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