Legal Question in Wills and Trusts in Florida
I will inherit about $50,00 soon & am wondering if I will have t pay taxes onit & if anyone can take it from me. I live in FL & my father livesin TX. Thank hou so much for your help. Respectfully, Sharon Cummins
4 Answers from Attorneys
There is no inheritance tax in Florida but I wonder if Texas will tax before you receive it. You might want to speak to a tax attonrey in both states.
You will not owe taxes. Whether anyone can take it from you depends on who you owe and for what.
There would be no taxes to florida but texas might have a small inheritance tax which probably isn't much if any.However.you might need some help to placing the money in florida which would not be reachable by a creditor which is the type of legal work I do frequently for clients.The list of choices is to broad to list here so if you need assistance feel free to e-mail me or call me for further info.
There is no tax in Florida, but a TX attorney will have to tell you about how it works there. I cannot answer your question about whether it can be taken away without knowing more, but yes that is a possibility. Regards,