Legal Question in Wills and Trusts in Louisiana
inheritance
i am an only child and my mother is gravely ill; dad deceased 20 yrs. even though i do not need one we have wills showing how all pesonal; financial and real property transfers to one or the other; my question is this when my mom passes and i inheritent the house what is the value of the property allowed before i have to pay both transfer and inheritent taxes;
to give you an idea i can sell our home for the price of $100,000-130,000.
thanks awaiting your reply,--name removed---name removed--
1 Answer from Attorneys
Re: inheritance
If the house is community property, then you have two successions to do. Do your father's succession first. This will dramatically reduce the inheritance taxes and will also be the most legally correct disposition of the property.
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