If my mother recently passed away and left all of her assets in a trust including her home, which we sold, are there any tax implications to her children?

Asked on September 25, 2013 under Estate Planning, Wisconsin


Anne Brady / Law Office of Anne Brady

Answered 7 years ago | Contributor

There are tax implications only if your mother's estate totaled more than $5,250,000.  The estate tax exemption has now been permanently set at $5,000,000, adjusted for inflation.  This year it is $5,250,000, up from $5,120,000 last year.

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