{"id":344,"date":"2011-02-01T12:29:48","date_gmt":"2011-02-01T16:29:48","guid":{"rendered":"http:\/\/www.dev.atiqbd.com\/beneficiary-taxes-last-will-assets\/"},"modified":"2011-02-01T12:29:48","modified_gmt":"2011-02-01T16:29:48","slug":"beneficiary-taxes-last-will-assets","status":"publish","type":"post","link":"https:\/\/www.standardlegal.com\/blog\/beneficiary-taxes-last-will-assets","title":{"rendered":"Must My Beneficiaries Pay Taxes on the Last Will and Testament Assets I Bestow Upon My Death?"},"content":{"rendered":"<p>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\\&#8217;s estate is of sufficient value that estate taxes (be they federal, state or local) will be levied upon the transfer of the property.<\/p>\n<p>The short answer is, it depends upon the value of the estate.<!--more--><\/p>\n<p>But candidly, such an issue is better addressed by a person in the financial sector vs. the legal industry.<\/p>\n<p>Generally, if the maker of a Last Will and Testament has an estate with a value of over $1 million, it is unquestionably worthwhile to sit down with a professional financial planner or CPA to discuss the options available during the estate planning \/ Will-writing process.<\/p>\n<p>If a person has an estate that is worth less than $1 million, there may still be some estate tax consequences, but they will be minimal &#8212; especially if assets are to be divided among many beneficiaries.<\/p>\n<p>Create a standard Will in 30 minutes for less than $15 with <a title=\"Standard Legal's Last Will and Testament legal forms software\" href=\"https:\/\/shop.standardlegal.com\/product\/last-will-testament-legal-forms-software\/\">Standard Legal&#8217;s Last Will and Testament legal forms software<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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\\&#8217;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 &#8230; <a title=\"Must My Beneficiaries Pay Taxes on the Last Will and Testament Assets I Bestow Upon My Death?\" class=\"read-more\" href=\"https:\/\/www.standardlegal.com\/blog\/beneficiary-taxes-last-will-assets\" aria-label=\"Read more about Must My Beneficiaries Pay Taxes on the Last Will and Testament Assets I Bestow Upon My Death?\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-344","post","type-post","status-publish","format-standard","hentry","category-last-will-and-testament-questions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Must My Beneficiaries Pay Taxes on the Last Will and Testament Assets I Bestow Upon My Death? - Ask Standard Legal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.standardlegal.com\/blog\/beneficiary-taxes-last-will-assets\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Must My Beneficiaries Pay Taxes on the Last Will and Testament Assets I Bestow Upon My Death? - Ask Standard Legal\" \/>\n<meta property=\"og:description\" content=\"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&#8217;s estate is of sufficient value that estate taxes (be they federal, state or local) will be levied upon the transfer of the property. 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