If my brother gave me his truck the day before he died, do I have to pay inheritance tax on it?

Get Legal Help Today

 Secured with SHA-256 Encryption

If my brother gave me his truck the day before he died, do I have to pay inheritance tax on it?

Asked on January 17, 2015 under Estate Planning, Maryland

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Sorry to hear about your brother.

You won't be paying any inheritance tax on your brother's truck because inheritance taxes only apply to multimillion dollar estates.  The size of an estate in which inheritance taxes are applicable varies from state to state, but generally there aren't any inheritance taxes unless it is a multimillion dollar estate.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption