Most likely it will be, unless there is something in the previous will which limits the inheritance.
Hell no
You can get an inheritance loan to get money more quickly when you are due to inherit money or get a legacy from someones estate. There is often a delay in receiving your inheritance while the estate that the money is coming from obtains probate. Companies specialising in inheritance loans will lend you money while probate is being obtained.
Money received as a beneficiary from an estate is not considered taxable. Money that is left on behalf of an estate is an inheritance and is considered to be tax free.
Your sister's debts are not part of the estate. The estate's responsibility is to pay the mother's debts and distribute the remainder. What your sister does with her share of the inheritance is up to her.
money that has been inherited has already been assessed for inheritance tax based on the amount left in the deceased estate. Once you have inherited the money you are not liable for inheritance tax.
Yes, it can be considered a draw against the estate and the estate has the right to ask for the money back.
The specifics will depend on the executor of the estate. If when the parent's die there are not adequate assets to settle the debts, the loan will probably have to be repaid. If there is enough to cover the debts, the loan can be subtracted from the bequest.
Not if the money was meant to be an inheritance or gift to that person. If the deceased promised the money in payment for a debt, and there is a valid contract, the creditor can get the debt from the estate.
The executor can use the money for the benefit of the estate, not for their personal use. They are entitled to payment for their services.
They cannot take money out of the estate for your debts. However, they can place a lien on your inheritance from the estate. When the estate is distributed, your share could be taken.
Probate is a certified copy of a will so proved, so when some one dies and leaves you money, assets or property, you would pay Inheritance Tax which is generally paid out of the Estate before you receive the inheritance. There are three types of Tax, Income Tax which is interest earned on money, dividend paid on shares and rental income on property. Next, you may have to pay Capital Gains Tax if you sell, give away or exchange an asset and its gone up in value since the date of death, Next Inheritance Tax which comes out of the deceased's estate before the inheritance is passed on. Inheritance Tax is only paid on the deceased's estate if the value exceeds £325.000. For further information refer to documents issued by HM Revenue and Customs
No. In the United States you do not pay Federal Income Tax on any inheritance. However, there may be inheritance tax on the estate so don't count on getting your hands on all the cash. The government could get some of it depending on the size of the estate. The government simply takes its money before you get your hands on it and not after you get it.