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    vduzowski's Avatar
    vduzowski Posts: 1, Reputation: 1
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    #1

    Jun 22, 2008, 08:42 PM
    CA Inheritance Law
    I would like to know how CA figures out the state inheritance tax on a $2,600,000 estate that includes cash, treasury bonds, and mutual funds.

    Thank you
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Jun 23, 2008, 06:52 AM
    Quote Originally Posted by vduzowski
    I would like to know how CA figures out the state inheritance tax on a $2,600,000 estate that includes cash, treasury bonds, and mutual funds.

    Thank you

    Depends on how these assets are held - and whether they are passing directly or through the estate.

    This a fairly large estate to attempt to manage without a financial planner/estate Attorney putting things in place during the person's lifetime. Hard to believe there was no legal input.
    cdad's Avatar
    cdad Posts: 12,700, Reputation: 1438
    Internet Research Expert
    		  
    #3

    Jun 23, 2008, 12:36 PM
    Really you need a professional to sort through this. If you are the benefactor and right now don't have monies then a lot of lawyers would take the case for a delayed fee. Some things may be exempt while others are taxed heavily. Also there is a federal obligation. Try calling your local Bar Assc and ask about a pool of lawyers the specialize in this area.
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