Legal Question in Wills and Trusts in Colorado
Estate Law & Probate
I am joint owner of several bank accountswith my only remaining parent. The will divides assets equally with my siblings. If we don't have to go through probate can I just divide the cash assets without a problem of gift taxes as the amount will likely be over $20,000?
Asked on 3/27/08, 5:51 pm
1 Answer from Attorneys
Bernard Greenberg
KOKISH & GOLDMANIS, P.C.
Re: Estate Law & Probate
You should consult with an experienced estate attorney before you proceed. In addition, you may need separate counsel concerning the tax effects to you about what you are proposing.
Answered on 3/28/08, 1:59 pm
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