Everything I've read says in the US there is no Inheritance tax with the IRS, and the Estate tax doesn't kick in until $11.7 million for individuals or $23.4M for couples. Only some states tax one or the other, and only Maryland taxes both. You only get taxed once you receive the money and invest Estate funds yourself which is when you have to pay capital gains.
Another wonderful video and topic. Thanks!
Excellent video
Thank you very much!
Everything I've read says in the US there is no Inheritance tax with the IRS, and the Estate tax doesn't kick in until $11.7 million for individuals or $23.4M for couples. Only some states tax one or the other, and only Maryland taxes both. You only get taxed once you receive the money and invest Estate funds yourself which is when you have to pay capital gains.
and one year one sibling may be in a high tax bracket, but ehen they inherit they are unemployed or other change in circumstances
many if not most siblings wont divulge tax information. a lot of parents (including mine) think kids should work it out..,