[donnaz]

My step father's mother died approximately 5 years ago, and left the house to her son and grandson in a will. They have not probated the house as of this point, but are considering selling the home so they will have to probate it. I understand that they have done away with the Estate tax/Inheritance tax especially if it is under $1.5 million. But how does it affect them, since she died 5 years ago??

Thanks

[AtlantaTaxExpert]

Donnaz:

If the estate is below $1 million, then no estate taxes (and probably no state death taxes, depending on the state) are due. Tax-wise, you are okay.

However, you are very late in probating the estate. That's a legal matter that is beyond the scope of this forum. I suggest you post it to the Law Forum on this site. Be sure to identify the state so that an estate attorney from that state can answer the question.

[dorry]

how do i go about probating a will. If 2 people are listed as co executors ==do both have to go? Other than a copy of the will do you need to bring anything else? Is there a charge for probating the will. If you probate and the only material inheritance is a house- do you need to pay inheritance taxes--mortage is 25.000 little escrow. Do you have to pay inheritance taxes as soon as you probate.

dorry

[AtlantaTaxExpert]

Dorry:

There will be a court fee for probating the will. How much depends on the state and county you live in.

If there are co-executors, both need to be present at least initially.

No inheritance taxes will be due if the total estate is under $1 million.

[dorry]

Thank you, I'm so appreciative. In order to probate the will, do I need to bring the will, identification, and do I have to have a copy of the deed to the house. Thank you in advance dorry

[AtlantaTaxExpert]

Dorry:

Yes to all three questions.