Must My Beneficiaries Pay Taxes on the Last Will and Testament Assets I Bestow Upon My Death?

Whether or not a beneficiary listed in a Last Will and Testament pays taxes on the assets provided in that Will depends on whether the decedent\’s estate is of sufficient value that estate taxes (be they federal, state or local) will be levied upon the transfer of the property.

The short answer is, it depends upon the value of the estate.

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