lisashomeoffice
Nov 30, 2009, 03:42 AM
I live in northern CA and I am not familiar with the tax laws regarding deaths & inheritance. You probably get this question frequently, but I will ask anyway and hope that I can get an answer. My husband (age 62) died in September, this year. His mother left him a trust fund before she died. He has never spent the money and it is being held by a trustee. My question is: How much of this money will go to the IRS and other state taxes, etc. He was left $50,000. Is there anyway to get around paying the IRS? If there is, can you tell me. He had no property, stocks, bonds, or anything else. I hear that they (IRS) take half of the inheritance.