Tax on Settlement (s)

[pottrbear]

What is the name of your state? PA
Good Morning. My questions is probably one that has been posted before but I am new here. My father passed away six months ago from Mesothelioma (cancer of the lining of the lung caused by asbesetos exposure). We hired an attorney and have just received a settlement offer from one of the companies named in the suit. My mother is in charge of the estate, there are three total siblings. My understanding is that my mothers portion of the settlement is not taxable but the money that my brothers and I receive will be. Does that make any sense to anyone?
Any thoughts???What is the name of your state?

 

[seniorjudge]

What is the name of your state? PA
Good Morning. My questions is probably one that has been posted before but I am new here. My father passed away six months ago from Mesothelioma (cancer of the lining of the lung caused by asbesetos exposure). We hired an attorney and have just received a settlement offer from one of the companies named in the suit. My mother is in charge of the estate, there are three total siblings. My understanding is that my mothers portion of the settlement is not taxable but the money that my brothers and I receive will be. Does that make any sense to anyone?
Any thoughts???What is the name of your state?

Try posting this in the tax section.

I'd tell you if I knew....