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Estate taxes

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E

Escort

Guest
Three children are now trustees in the estate. Is each one responsible for only 33.3% of the estate taxes since the distribution is equal? or is there something they have to do to avoid tax consequences that would be unfair to them.
 


L

loku

Guest
Is this an estate or a trust? If it is an estate, then the three children would be executors or administrators. If it is an estate, is the value over $675,000? If not, there is no estate tax.

If the estate is over $675,000, then there probably would be an estate tax, and the estate would be liable for paying it before the distributions are made.

If you post the facts, maybe we could be of more help.
 

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