inheritance taxes
my mother created a trust putting her assets in it. she has died and now i am to receive a disbursement of about $70000. will i have to pay income tax on this money
Asked on 9/08/08, 7:05 pm
1 Answer from Attorneys
Adam S. Tracy
Securities Compliance Group Ltd
Re: inheritance taxes
thank you for your question. there is no federal inheritance tax. thus, you likely do not have to pay. Was the trust formed as part of her estate plan? Please feel free to contact me directly: [email protected]. Thanks.
Answered on 9/08/08, 8:42 pm
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