Q: If I inherit from an Uncle real estate, savings bonds, and bank accounts as a beneficiary How do I pay the inherit taxes
A: At the outset you should check the will to see whether the estate pays death taxes or whether the beneficiary bears the burden. Next realize that there are multiple levels of possible taxes and various taxes may apply depending on the size of the state and relationship between the deceased and the beneficiary. Some property may pass free of federal or state inheritance tax. Maryland currently has a different threshold than the federal inheritance tax so the estate may be over the state threshold but under the federal. Separately the estate may pay probate taxes which get paid to the Register of Wills for property passing through probate. Sometimes assets must be liquidated to pay inheritance tax, sometimes the estate has adequate cash. I strongly encourage you to seek legal advice from an attorney who can look at the specifics of your situation and help answer your question. Note that this post does not create any attorney-client relationship but I hope the general information gives you an idea where to start.
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