MY MOTHER PASSED AWAY MAR. 1ST, 2009AND SHE LEFT A 1996 DOUBLE WIDE TRAILER TO ME AND MY TWO BROTHERS. THE TRAILER IS WORTH $20,000
DOLLARS. HOW MUCH INHERITANCE TAX DO WE OWE?
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I graduated from the University of Massachusetts in 1992, and obtained my law degree, (J.D.), from Franklin Pierce Law Center in Concord, New Hampshire in 1996. In the past, I have maintained a solo law practice and have also been an associate in other law practices. What my office, Nakata Consulting, LLC, provides is professional planning and counseling services and federal, state, and local tax planning and preparation. Most importantly, we do this at affordable prices, all by offering solutions, and implementing strategies to help seniors and their families’ problem solve. When not planning or preparing income taxes, my office works to match seniors and their families up with providers in the elder service industry. We can assist seniors and their families with estate and elder planning (preparation of short term and long term benefits application(s), health care and durable power(s) of attorney (advanced directives), wills, trusts). We can locate and work directly with companion, home health agencies and geriatric care managers. We provide financial counseling, property management and book keeping services, and work with financial planning service providers to assist individuals with the management of their assets. Most importantly we do this at affordable prices, all by offering solutions, and implementing strategies to help seniors and their families’ problem solve. With the client base I work with, I am called upon often to find other local small business people to help service the needs of those I work with, and I would welcome the opportunity to learn more about other small businesses, and see if there is a way that we can help each other. I have a growing network of service providers and small business people I work with, and often I find I can find solutions for folks by matching businesses up with other business folk, to everyone’s benefit. To that end, we also assist small businesses with choosing what type or business entity to form, and registration of and organization of their business. We can work with small business owners to create growth development ideas, by helping them find service providers to support them with start up and growth decisions, including but not limited to software, equipment, web site development and marketing. View Profile
Generally if that is all that she left you would not owe any federal estate tax. As to the state where mom lived when she passed, dependent on the state, there may not be an estate tax owed.
If you like give me a call and we can discuss the particulars in more detail, but unless mom's estate (things in her name when she died) is in excess of 2 million dollars you would not have a federal estate tax liablity, and most state's estate tax has similar limits. I would suggest that once we know what state she passed living in, that we can do the research and make a determination if there is anything you need to do.
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