Legal Question in Wills and Trusts in Michigan

can a wife give her inheritence to her spouse without paying taxes on it


Asked on 1/01/10, 8:29 pm

1 Answer from Attorneys

Audra Arndt Audra A. Arndt & Associates, PLLC

what do you mean by inheritance? money she received from, say her mother, and then she wants to give it to her husband right now, prior to her death? any large gifts of money are taxable. Your question needs to be more specific. If you're talking about the money going to the husband when the wife passes, assets (such as bank accounts or stocks) that are jointly held, automatically go to the survivor and not through the probate court. Tax consequences vary, but generally jointly held accounts and assets are not subjected to taxes.

Since I'm not quite sure what you're asking, I don't know if this has answered your question or not. I would suggest re-posting your question with more details. Thanks.

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Answered on 1/09/10, 7:41 pm


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