Q: Does one pay estate tax on home inherited thru a transfer deed?
My husband and I have been married 5 years. After marriage, I moved into his home and we subsequently completed a transfer beneficiary deed on the home. If he were to pass, would I be obligated to pay some sort if estate tax on the home?
A: There is no estate tax in Missouri.
Depends on the market value of the estate, as to Federal Estate Tax.
First ten million + passes free of any federal estate tax; as to EACH PERSON. That means that a couple can pass twenty million plus without federal estate tax.
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