Q: Does IRS get notified if a house goes through probate?
If the estate puts a house through probate, but none of the estate holders want the place, as another family member owns the other 2/3, no money is exchanged. The only reason we are going through probate is to remove my grandmother's name from the deed so I can refinance my mortgage
A:
You should speak to a lawyer on this because real estate has substantial value and you should obtain individualized advice.
For your convenience only, for decedents dying after 2018, there is no federal estate tax on gross estates valued at less than $11,180,000.00. There is no Massachusetts estate tax if the gross estate is less than $1,000,000.00. Gross estate includes non-probate assets like life insurance. Again, you should consult an attorney as other factors you did not mention may apply.
Lillian J. LaRosa and Michael M Marques agree with this answer
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