Legal Question in Wills and Trusts in Maryland

taxes on inherited money

I am to receive an inheritence from my parent's estate, will I have to pay taxes?


Asked on 6/12/08, 3:59 pm

1 Answer from Attorneys
Thomas Brown Law Office of Thomas K. Brown, LLC

Re: taxes on inherited money

You won't have to yourself, but depending on the size of the estate, the estate may have taxes due. Generally speaking, it's the estate that pays taxes, not the recipient.

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Answered on 6/12/08, 4:28 pm


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