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Which type of tax is imposed on those who inherit assets from a deceased person?
Wiki User
∙ 9y ago
inheritance tax
Wiki User
∙ 9y ago
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Which type of taxes imposed on those who inherit assets from a deceased person?
inheritance tax
What type of tax is imposed on all real and personal property of a deceased person?
estate (A+)
What is difference between personal assets and company assets?
Personal assets is assets that are owned by a person. Company assets are assets that are own by the company.
How long do you keep tax records for a deceased person?
How long a person keeps tax records for a deceased person will vary depending on the circumstances. Use your best judgment. It is recommended that a live person keeps their records for 5 to 7 years.
Who files tax return for a deceased person?
The executor of the estate files the tax return for the deceased.
Which type of taxes imposed on those who inherit assets from a deceased person?
inheritance tax
Can same assets be left in a will and a trust?
If the deceased's will leaves assets to a person but places them into a "trust" for that person, yes, they can.
What type of tax is imposed on a real and personal property of a deceased person?
estate (A+)
Can one inherit a person not knowing that person but just by the name identity example the surname if there was no written will by the deceased person?
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What type of tax is imposed on all real and personal property of a deceased person?
estate (A+)
Grant of probate?
A grant of probate is a legal document issued by a court that confirms the validity of a deceased person's will and gives authority to the named executor to administer the estate according to the terms of the will. It allows the executor to collect and distribute the assets of the deceased individual in accordance with the law.
Can someone who stands to inherit land lose it if they are in or file bankruptcy?
If the person who currently owns the land is not yet deceased, then the person who may inherit the land has no current interest in the property. This has no effect on bankruptcy proceedings.
Who inherits if the child that was to inherit dies before the inheritor?
The inheritance of any deceased person is divided amoongst the remaining heirs.
Can you collect a debt when the person is deceased and has no assets in the state of Ohio?
You can apply to the estate for your money. If there are no assets in the estate, you aren't going to be successful. Consult an attorney in your jurisdiction for help.
Does a child or her father inherit her mother's property?
The dead have no legal rights. However, the estate of a deceased person acquires many of the same rights as the person had while alive. The executor or administrator of the estate carries out the final collections and payments on behalf of the estate, and should attempt to enforce all rights of the deceased (including pension and other contracts payable to the deceased, privacy, personal choice in disposal of remains, disposal of the estate assets, payment of taxes, etc).
Who will get the assets of a deceased parents if children are underage and there is no will and testament in state of Florida?
The state will open the estate. The assets will go into a trust for the use of the children. The state will appoint a trustee for the assets and a guardian for the children. They may be the same person.
What are the executor's responsibilities re sharing knowledge of deceased person's assets in detail prior to distribution?
The executor has to inventory and value all assets. They have to provide a full accounting to the probate court.
