Legal Question in Wills and Trusts in Georgia

Most inheritances are too small to be taxable. But since there are tax consequences as to SOME inheritances, you should be talking to a CPA in advance (Yours is not a legal question but is an accounting one).

GA does not have inheritance tax. But the question is where is the estate pending? In GA? Or outside of GA? Your post suggests that the estate inheritance is from outside GA.

Some states (like PA) have inheritance tax and others (like GA or NC) do not. It would be important to know where the funds are coming from to know whether there is a tax or not.

Even if there is, the tax is not paid by the beneficiary but by the estate. The estate would need to get a tax approval letter showing that all taxes were paid before the estate could be closed out.

Once you receive the funds, if you stick them in some kind of investment, they would be subject to a capital gains tax or income tax maybe on the income received/earned. You inherit a step upped basis (i.e. your basis is the value of the items as of the date of death). You indicate these are bonds - are they savings bonds? Or some other kind of bond like a municipal bond?

I am not a tax attorney or CPA but you would need one when you file your annual taxes to figure out all this stuff..