Legal Question in Intellectual Property in Indiana
receving property threw a living trust
we were left a farm threw a living trust by a family friend (no blood kin) i no that we will have to pay gift tax on this when he passes. the sum will be around 50,000 will this have to be payed right away or can installments be made?
Asked on 10/03/08, 10:14 pm
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: receving property threw a living trust
CHeck with an estate tax attorney in IN. You likely will NOT have to pay taxes on gift/inheritance of under $1M .
Answered on 10/03/08, 10:35 pm
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