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Gift, Estate, and Generation-Skipping Transfer Taxes

Will My Heirs Have To Pay Tax On Their Inheritance?

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Generally, no.However, you should check with an accountant to find out about the law in your state.

Your estate is generally required to pay any taxes before distributing assets.

If you prefer, you can specify that a gift made in your Will be made tax-inclusive: the amount of estate taxes attributable to that gift reduces the amount of the gift. For example, if you have a taxable estate, you can give in your Will $100,000 to your aunt Sheila, either providing that she gets the entire $100,000 so the estate pays the tax, or she gets $100,000 less the tax attributable to that amount.

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