Q: My parents live in PR. All of their retirement assets are in the US. If one of them dies what is the tax they will pay
I've heard that there is a $60k Exemption and everything else is subject to a 40% tax
A: Chances are that their estate and their heirs would be subject to Puerto Rican estate taxes and / or inheritance taxes, as well as to US federal taxes. But to be sure you should ask this in Justia > Ask a Lawyer > Puerto Rico; what does it have to do with Florida?
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