English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

8 answers

The estate is responsible for the taxes of the decedent. If there is a tax debt, the assets of the estate will need to be liquidated to pay the debt. If there's anything left when the tax (and any other) debts are paid, it will be distributed to the heirs.

2007-02-11 20:09:01 · answer #1 · answered by Bostonian In MO 7 · 2 1

The estate is responsible up to the extent its assets will cover the debt. If the assets are insufficient to cover the debt, tough tulips.

However, if the assets have been distributed by the estate to the beneficiaries and then the liability is revealed, the beneficiaries are on the hook to the extent of the value of what they received. And I believe that liability will be joint and severable. If one beneficiary spent everything (now broke) and the others invested the monies, who ever has the funds will be liable up to what they initially got even though they are paying more than their fair share.

2007-02-12 16:09:39 · answer #2 · answered by zudmelrose 4 · 0 0

you're not responsible. If anything, the "estate" (if there was one) would be responsible.

"Children" of the deceased are NOT responsible if they're of age. I went thru this when my mother died, they TRIED to say I was, but my attorney said OTHERWISE.

2007-02-12 03:59:50 · answer #3 · answered by Harleigh 6 · 2 0

He who would accept assets will have to accept liabilties. If assests are not taken by anyone all can refuse to paid income tax. Income Tax officer will go to God to serve notice to assessee.

2007-02-12 09:37:43 · answer #4 · answered by Anonymous · 0 1

As long as you are asking this about U.S. law the answer is that only her estae can the govt. go after. You are not responsible for her taxes. If they do come after you, tell them to take a hike. If her estate was broke, tough nuts for the IRS.

2007-02-12 04:08:51 · answer #5 · answered by celticwarrior7758 4 · 3 2

The estate is responsible for it.

2007-02-12 11:42:50 · answer #6 · answered by Judy 7 · 0 0

Can't get blood out of a turnip

2007-02-12 03:59:19 · answer #7 · answered by FromJLM 3 · 1 5

the estate, if none of that, then kids or spouse.

2007-02-12 04:00:27 · answer #8 · answered by Anonymous · 2 6

fedest.com, questions and answers