W
waitnomore
Guest
What is the name of your state? GA
My step dad left my sister and I GIFTs which are suppose to be paid out by the executors of the estate. My questions is are we suppose to pay estate taxes for GIFTs and one of the accounts Gifted to us is related to a cash fund which my step dad paid his realestate taxes from. The estate attorney stated to the executors that four months (step dad was alive these four months) of realestate taxes should be deducted from the account before paying us. What is the law regarding GIFTs? Is there any estate taxes on GIFTs and are we liable to pay for the realestate taxes from the account?
Thks, Waitnomore
My step dad left my sister and I GIFTs which are suppose to be paid out by the executors of the estate. My questions is are we suppose to pay estate taxes for GIFTs and one of the accounts Gifted to us is related to a cash fund which my step dad paid his realestate taxes from. The estate attorney stated to the executors that four months (step dad was alive these four months) of realestate taxes should be deducted from the account before paying us. What is the law regarding GIFTs? Is there any estate taxes on GIFTs and are we liable to pay for the realestate taxes from the account?
Thks, Waitnomore