| Jim615:
The federal estate tax exemption is $1.5M. California probably is in line with taht amount, but a call to the California state tax authority can confirm this.
Irsuth01:
Exactly how much tax you have to pay the IRS and the state of Kentucky cannot be determined based on the information provided. For the IRS, it will be determined as part of your overall income picture for 2006. The same probably applies for Kentucky.
The good news is that you do NOT have to pay the 10% Early Withdrawal Penalty. | 
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