who pays estate tax
if I receive a large life insurance payout from a friends death, who has to pay the estate taxes if his estate has very little real tangible assests left and very little cash. Do they then make the recipient pay it?
Asked on 10/14/07, 6:49 pm
1 Answer from Attorneys
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
Re: who pays estate tax
If the insurance is paid to you directly, it passes outside of the estate. Most states do not tax direct beneficiaries. You sould talk to your estate planning lawyer to analyze the specific details of your case.
Ron Cappuccio
http://www.saveyourestate.com
Answered on 10/14/07, 7:35 pm
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