Inherited Assets From A Loved One? Answers To Common Questions For Heirs
Losing a loved one is a difficult time for all. It can be even more complicated when you have to deal with financial and tax matters at the same time. If you have inherited from a friend or family member who passed away, what do you need to know about your inheritance? Here are a few answers to common inheritance questions.
What Taxes Do You Owe? As a general rule, a person who inherits assets or cash does not owe inheritance taxes upon receiving the items.