Legal Question in Wills and Trusts in Georgia

Re: Will I have to pay a gift tax if I take my inheritance now?

You need to sit down with a qualified tax expert who, after going over all the facts, can best advise you.

Re: Will I have to pay a gift tax if I take my inheritance now?

Judging strictly by the information provided in your post (fair market value of total estate = $300,000), and provided your mother has not made any prior taxable gifts, it does not appear that her estate will be subject to taxation at death (nor gift taxation if transferred to you during her life time). Of course, future appreciation or other growth in her assets might change the situation. Combine this with the fact that assets in your mother's estate at the time of her death will receive a step-up in basis for income tax purposes, and you may well determine that it is to your advantage to wait until your mother's death to receive your inheritance.

You should, of course, seek the specific advice of a qualified attorney or CPA prior to making any decision in your particular situation.