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Assuming you mean inheritance or estate taxes, not as such. A will simply provides for the distribution of the assets on the death of the testator. Some forms of distribution, usually relevant only to estates worth a million dollars or more, may defer or affect estate taxes, but the surest way to avoid taxes is by trusts and certain other means created before death, not by the will.
What else can I help you with?
Are royalties probate property?
Yes, they are assets of the estate. As such they are subject to probate and appropriate taxes.
Does a will have to be filed in probate court in Massachusetts?
A will needs to be filed with the probate court. That provides assurances that the estate will be properly administered and taxes paid.
In Illinois what makes a will go to probate?
The fact that the will exists. All wills need to go through probate to allow proper distribution, evaluation and paying of taxes.
Is the IRS concerned about probate?
Yes, the IRS is very concerned with probate. The estate will need to file tax returns and pay the appropriate taxes.
Do the children have a right to probate the will?
Yes, they are heirs and entitled to file for probate. That will make sure all of the legal requirements are met and taxes paid.
Does a will in Arizona have to go through probate?
Yes, a will has to go through probate. That insures that the will is properly executed. It also makes sure that taxes are properly paid.
Does a will have to be file in probate court in Illinois?
Yes, a will must be filed in probate court. That makes sure that the executor is held responsible and that the appropriate taxes are paid.
Does Florida require a will to go to probate?
In Florida a will must go through probate. That makes sure all of the legal requirements are met and taxes paid.
Does a will have to be filed in probate in the state of Georgia?
A will in Georgia is required to go through probate. That makes sure all of the legal requirements are met and taxes paid.
Does life insurance still go through probate if your name is the beneficiary in NH?
That is the beauty of life insurance~! With a properly named beneficiary there are no taxes and it avoids probate!
Is cash held in the deceased's name by the state until after probate exempt from estate taxes?
No.
Do you by law have to probate a will?
Yes, you do have to probate a will. The court is going to insure that the will is executed and protect the desires of the deceased. They also want to make sure that the state gets the appropriate taxes.
