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life estate

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P

Ph128

Member
What is the name of your state? Indiana

If one who is unrelated to the deceased person, inherits a life estate in the home of the deceased person, but not ownership, is the person who received the life estate liable for any state inheritance taxes?
 


L

lwpat

Senior Member
Yes. You have received the value of the life estate based on the fair rental value for your estimated lifetime.
 
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