Legal Question in Wills and Trusts in Kansas
Inheritance tax on C.D.s and I.R.As
My parents had approximately $8,000.00 in C.D.s
payable upon death to me (the executor) and a
$3,000 I.R.A. Is there any inheritance tax due in
Arkansas? My 3 siblings and I live in Kansas.
Also, do these items go through Probate Court?
Asked on 1/06/00, 2:44 pm
1 Answer from Attorneys
Clark Evans
Evans Law Firm
Re: Inheritance tax on C.D.s and I.R.As
There would be no Arkansas inheritance tax due on that dollar amount. For sure, the CDs need not go through probate. It is likely that the IRA payout would also escape probate.
Answered on 1/06/00, 8:49 pm
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