Legal Question in Wills and Trusts in Louisiana
Louisiana parents are now both deceased; last parent died in 2010. No house, vehicle, or other substantial assets, except bank account of 100 thousand, payable on death to adult children. Are state inheritance taxes due on the bank account funds?
Asked on 6/04/10, 8:47 am
2 Answers from Attorneys
Adam Lambert
The Law Office of Adam S. Lambert
Not if you open succession timely.
Answered on 6/04/10, 12:50 pm
James Maguire
James G. Maguire, Attorney At Law
No inheritance taxes on estates of persons who die after 6/30/2004, so it depends on when first parent died.
If there are no taxes due, and just a POD account, no succession will be necessary.
Answered on 6/04/10, 3:05 pm
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