Legal Question in Wills and Trusts in Illinois

Re: Estate Taxes

It is unclear to me how you could sell your mother's house before probate if she owned the property in her name alone. If you are a surviving joint tenant or the beneficiary of a trust, there will be no need to probate that property. In any event, you will not likely be responsible for any federal estate taxes if her entire estate was $1,000,000 or less and further provided that she did not utilize her exemption or a portion thereof by making gifts prior to her death. In addition, if you sold the property soon after her death, you will not be responsible for any federal capital gain taxes because your value is what the value was at the time of her death. I cannot advise you on Wisconsin inheritance taxes other than to state that as a surviving son, you do have an exemption up to a certain amount. I don't know the amount of that exemption.