My grandmother left around $306,000.00 to my 2 siblings and I. After inheritance taxes, lawyer fee's and a trustee fee $5,000.00 will go to each of the 6 great grandchildren and the remainder is to be equally split between my 2 siblings and I my question is what is the going rate on inheritance tax and do I have to pay in on it at the end of the year with income tax, i am unemployeed and my husband will file seperately, I would like to purchase a house with the money.
1 Answer from Attorneys
There are NO inheritance taxes in the state of Wisconsin after 1991. And the estate is way too small to be subject to any Federal estate taxes.