Legal Question in Wills and Trusts in Texas
Taxes real estate
The taxes are past due. One heir does not wish to pay, will is sitting on the docket. heir is the executor won't do anything. Does the person who has the pod bank accounts have to pay the taxes out of this money?
Asked on 2/17/09, 8:13 am
2 Answers from Attorneys
Edgardo Baez
The Baez Law Firm, P.C.
Re: Taxes real estate
There is a difference between the beneficiary of a bank account POD vs. the executor of a will. In other words, POD accounts are non probate assets.
Answered on 2/17/09, 9:29 am
Cheryl Rivera Smith
The Smith Law Firm
Re: Taxes real estate
Taxes would be paid out of the estate assets. The big penalties won't come until July, otherwise, wait for property to sell and pay taxes out of the closing. In the meantime, just make sure the taxing authorities aren't going to foreclose as a result of the past due taxes. On the pod account, the answer is no.
Answered on 2/17/09, 11:49 am
Related Questions & Answers
-
Courts how much does it cost to suopena bank records Asked 2/14/09, 7:17 am in United States Texas Probate, Trusts, Wills & Estates
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
