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Tax Law (Questions About Taxes)/Estate taxes - Gift Taxes - Intestate



My mother passed and did not leave a will (the law office where she went to make up a will 2 years ago says they have no record).

We are assuming she is intestate. I am an only child with 2 adult children and one minor grandchild.

I want to pass some of the inheritance to them (about half) but by law everything passes to me and if I give them any money from the estate it is considered a gift, and taxable (though I am not clear on who is liable for the gift taxes... I think it is me).

Is there any way to pass some of this inheritance to my kids and grandchild so that it is treated as inherited money rather than a gift?

My mother expressed that the kids get a quarter of the estate each and the grandchild get a trust for college. There is one witness to those statements, but is that enough for them to legally inherit the money without estate or gift taxes?

The amount of the estate is below the federal and state levels that trigger estate taxes.

Thank you for your time

Sorry for your loss
When did she pass
What state did she live
What state do u live
How much (total estate) are we talking about?
Any of her estate "qualified" assets (Ira, pension)
Any of the estate life insurance etc?

Lastly get her checkbook and review to see I any checks. Over last few years were written to lawyers

---------- FOLLOW-UP ----------

QUESTION: Thanks for your help.

I understand that we don't have an agreement for you to provide written tax advice and this is just chat on a discussion board. I appreciate you taking the time to chat.

She passed December 2013. We live in Virginia. The estate is less than $300,000. One $30,000 IRA. Life insurance, additional to the estate, is $10,000.

I hadn't thought to look through her records for a payment to her lawyer. That I think will yield some clues.

Thanks again,

I am in VA a few days a week.if you bed help let me know (my home is in CT)

I am happy to meet if close to NOVA.  CALLS IF DOWN AT THE SHORE

We can (easialy) get you where you want to be

Also, the Ira will cause income tax inclusion on your 1040

Make a new email but mark it private.  I will provide my contact info  

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Tax and general business including hospitality related (hotel mgmt degree and experience in industry prior to obtaining ms tax and cpa).


19 years cpa. ms tax. NOTE: My discussions are only a general information and do not constitute tax advise without entering into a specific agreement and executing an engagement letter; This free chat is nothing more than general information and should not be construed as tax advice nor does my response or replies imply an agreement to provide client specific advice or other guidance for purposes of avoiding IRS tax or penalties and should not be relied upon without your own validation and confirmation of the how the discussion may fit your facts... Not having all the facts and/or not having a direct client relationship prevents me from providing the most accurate replies as possible and I highly suggest using a local CPA to provide you with written advice and guidance. Taking matters into your own hands is much akin to trying to land an airplane without a license. It is easy to FLY a plane, but LANDING is when critical experience is key. In short, caveat emptor; do your homework and don't just rely on free chat board advice anywhere, anytime.

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