Quote:
Originally Posted by jwd
You need to read the 3rd paragraph of Patrick's link. The only way the executor is liable for any taxes is if they distributed funds/property PRIOR to paying all outstanding taxes. If the estate isn't worth the amount of taxes owed, the full value of the estate goes toward the tax bill. The executor IS NOT liable for the unpaid balance.
Many people have attorney's as executors. Do you really think they would subject themselves to that kind of a liability?  |
Patrickt's link tells you how you can mitigate the liability. It does not tell you you have no liability.
You do have the right to believe you have no liability. If you choose to believe that - that is your privilege and choice. It's one of the great things about living in this country.
Hissy fits not withstanding we still need a CSX number ...
Ed