Albuquerque, NM asked in Estate Planning for Maryland

Q: My mother's estate is worth less than $100,000.00. The beneficiaries of the estate are my sister, me, and my brother-in-

law. Will we owe any inheritance tax?

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1 Lawyer Answer
Paul E. Draper
Paul E. Draper
  • Estate Planning Lawyer
  • Baltimore, MD
  • Licensed in Maryland

A: A probate estate or the persons receiving under that estate may be subject estate and/or inheritance taxes. Due to the size of the estate and whose inheriting from it, there will be neither estate nor inheritance taxes owing. For estates of decedent's who died in 2015, no federal estate taxes are owing for estates with gross assets under $5.43 million or less, and no Maryland estate taxes are owing for estates with gross assets of $1.5 million or less. Since the distributees of the estate are children of the decedent or spouse of a child, these persons are not subject to any inheritance taxes for assets received from an estate..

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