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    Linda59's Avatar
    Linda59 Posts: 2, Reputation: 1
    New Member
     
    #1

    Sep 12, 2008, 08:35 PM
    What kind of taxes are applicable in CA if the property of my father is left to a trustreeship at his death?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    Sep 13, 2008, 05:13 AM
    First its not a good idea to piggyback your question on someone else's. This can lead to confusion. You should start a new thread. So I've moved your question to its own thread.

    Whether the beneficiary of the estate is a trust or an individual shouldn't matter. If the value of the estate is over the $2M threshold, the estate has to pay taxes BEFORE the property is turned over to the trust.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
     
    #3

    Sep 13, 2008, 04:16 PM
    The trust administrator will take care of estate duty. There is no estate duty if the estate is less than 2 million.
    There is no federal tax and CA tax on inheritances.
    Read: Your U.S. Tax Return: Tax on Inheritances

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