Ask Experts Questions for FREE Help !
Ask
    crine's Avatar
    crine Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 30, 2008, 04:23 PM
    Children's inheritance
    My children are inheriting a substantial amount of money from their grandmother who recently passed away. She has a large amount of life insurance. Is this tax free.

    There is also money from property once owned and sold. Would there be taxes to pay on this?

    Thank you
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
    Uber Member
    		  
    #2

    Sep 30, 2008, 05:58 PM

    No tax on the insurance policy benefits.
    Tax on the sold property.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Children's TV [ 2 Answers ]

Does anyone remember a children's TV show about the White House and I think it was rats running it?

Name of children's toy from 80s or 90s [ 2 Answers ]

I am trying to recall the name of a toy from either the late 1980's or early 1990's. It featured a cat with a beanbag body (I think) about the size of a softball, and paws that would velcro together. The toy's trademark was a furry tail with velcro at the end so that you could add extensions to...

View more questions Search