Legal Question in Wills and Trusts in Illinois
help!
death 2003; over 1 mil; all pod except 1 acct; atty adv no exec or atty needed..file small estate clm. Only us 2 sons. We both filed claims to rcv $, otherwise bro not around. I pd fed estate tax(I had him give me $ to pay fed; no estate acct; ), and filed Mom�s 1040. I gave to acct, had forms done. Got bro signature and his 1/2 check(told to hold 1 week); then he stop paid. Now says I was executor(?I don�t think he wants to pay interest on tax due);He signed small estate affadavit, and filed for benefits too (By how the affadavit reads that no rep has/is/will be appointed....It seems that he can not claim that I was exec?)Hasn't mentioned that for a while, but now is delaying further.
?s: if I sent ck for estate tax, or signed her 1040, am I more liable than him for the state ''estate'' tax /penalties? OR are we both liable for estate tax AND penalties. Am I more liable for anything as I(said I'll try/was compelled to) do more work?What if that work done late? Since he got more $ overall, wouldn't the tax (payable by each of us) be according to the % each received? Also, If he was bene on a life policy, filed, got $, and gave me 1/2 of $, is that a gift to me?(The atty I HAD. also spoke w/ bro, so now won�t talk to either)
1 Answer from Attorneys
Re: help!
I would suggest that you sit down with an attorney who can review all the documents related to the issues you raise. There are a lot of questions that are unanswered by the limited information in your posting.
Was there a small estate affidavit filed because everything else was transferred directly to the beneficiaries on each account? Was there a will?
If there were taxes due on the estate, there should not have been distributions made until the taxes were paid.
Please contact me directly if you would like to discuss this further.
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