Legal Question in Wills and Trusts in Massachusetts
father died a month ago without a will in massachusetts ( had will but not signed) . told we have to pay estimated estate tax before probate court will give permission to the administrator to sell his homes. does this sound right ? i realize estate tax /form is due 9 months after death but we have buyers for house now and seems crazy to have to pay "estimated" taxes before we even know the actual value we will be recieving for the real estate properties.
we are not even sure his estate will be over 1 million dollars until homes are sold , to know if any state estate tax is even due.
1 Answer from Attorneys
Estate taxes are based on the value of the estate as of the date of death, not when you sell the property. You cannot give good title to the property unless you determine whether or not the estate is taxable; and if it is taxable, pay the estimated taxes and get a release of the estate tax lien from the Department of Revenue.
You should be working with an experienced probate attorney, who can properly advise you. A professional real estate appraiser can provide credible information about the value of the real estate as of the date of death.
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