estate taxes

[airics]

Hi there, wondering if anyone know the answer to this

 

Mother passes away, has 350k in cds, house paid in full value 180k

 

In will, mother leaves everything to son... Father agree's, doesnt contest anything... cds and house are transferred to son

 

are there estate taxes to be paid in this scenario.

death in 2005

no insurance or anything else to consider

 

thanks

[CheapDB]

Yes. I don't think there is anyway to avoid estate taxes.

[airics]

i know that there are taxes, i am looking for the amount.... it is under 1.5mil so i think the estate taxes are 0, i wanted to confirm this

[rpatty]

There's definitely a limit before taxes become an isuse. Not sure what that number is, but the 1.5 million mentioned above seems close. You'll want to talk to a tax expert, of course, but I'd guess that for less than $600k you might be completely in the clear.