Inheritance Living Trust - Spidell

Inheritance Living Trust

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Message Board Inheritance Living Trust

  • This topic has 2 replies, 3 voices, and was last updated 2 days, 2 hours ago by William Dewberry.
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    • #331575
      Kim Greenblatt
      Participant

      If someone inherits a property that is in a living trust, does the person who inherits it have to pay taxes on it?  Is it the same for relatives and non-relatives?  Recipient can refuse to accept inheritance too if I remember.  Thanks in advance.

    • #331640
      Anonymous

      What taxes are you asking about?  Estate? Property? Income?  You haven’t provided enough info for much of an answer, starting with, what is the nature of the property?

      Yes, an heir can disclaim an inheritance.

    • #331643
      William Dewberry
      Participant

      No, taxes if any, are paid by the estate before inheritance is distributed, then the person receving the inheritance receives tax free.

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