California | Tax Law
3/27/05, 4:00 pm
Legal Question
Taxes on 2.5 to $3 million estate
My uncle's estate is worth approx 2.5 to $3 million, with $1.6 million of that total coming from annuities and the remaining balance being his trust. He recently passed away and had several beneficiaries to these annuities. My question is, are the annuities considered part of the estate? If so, who is responsible for the estate taxes, the trust or a combination of the trust and all of the beneficiaries?
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