Legal Question in Tax Law in Minnesota


It is possible that I may be expecting an inheritence of approx. $15 mil. How much am I going to owe in taxes? The money will come from overseas.

Asked on 12/20/06, 11:27 am

2 Answers from Attorneys

Terrence Valko ERISA Disability Lawyer

Re: Inheritence

with proper tax planning utilizing the proper use of Trusts, you may be able to defeat the usual situation where the taxmen eat one-third to one-half of your windfall. the question requires a highly individualized answer. be prepared to give away money irrevocable to charities and live off the income, realizing the need to pay taxes only on income and not principle.

Good Luck


Read more
Answered on 1/05/07, 7:41 pm
Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

Re: Inheritence

Please watch out for Scams! Do not give any money to someone overseas. Please check with your own local lawyer. Also, check out my website for scam information.

I hope this helps!

Ron Cappuccio

Read more
Answered on 12/20/06, 10:34 pm

Related Questions & Answers

More Tax and Taxation Law questions and answers in Minnesota