• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Inheritance taxes

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

selinafg

Junior Member
What is the name of your state?What is the name of your state? Illinois

I am married to an american citizen and I received an inheritance from other country. I want to open an account, deposit that money in CD, and make a will for my 2 sons from my previous marriage that are in other country.
Is that possible? Will they have to pay taxes to get that money when I die? Do I have to make something else to be the only owner of that account or my husband will have rights on it?
Thanks for your help.
 


abezon

Senior Member
You need to see an estate planning attorney with international estate experience. The answer will depend on where you keep the money & what country the kids are in. If possible, it may be easiest to keep the money in the foreign country with a 'pay on death' designation for your sons.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top