Legal Question in Wills and Trusts in Texas

Is there taxes on property acquired via a death & a trust;

I have acquired some property in Wisconsin when my Mother died recently. I would like to sell it. Is there any federal or state taxes involved? Property is in Wisconsin, I am in Texas and the property is in a trust.


Asked on 5/05/05, 9:28 am

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Is there taxes on property acquired via a death & a trust;

The property may be sold by the trustee. If the property has appreciated in value, the trust will be obligated for federal capital gains.

I don't know if there are any state taxes associated with the sale of property in Michigan. Again, if there are, the trust is the paying party.

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Answered on 5/05/05, 9:38 am


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