Inheritance Tax

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  • #3651

    msmacc
    Participant

    Is there a tax(s) on a 30 K inheritance in Louisiana?

    What are the tax consequences on this inheritance and can a forced heir be forced to accept the inheritance?

    Thank you.

    Kindest regards,
    msmacc

  • #3652

    Lex
    Keymaster

    There is no longer an inheritance tax in Louisiana, so no tax consequences.

    It would also qualify as a “Small Succession” -so no probate as such would be required.

    Nobody can ever be forced to accept an inheritance. If an heir refuses, then it would go to the next closest heir -with lots of exceptions and depending on whether there is a will.

  • #3657

    msmacc
    Participant

    Thank you Lex.

    This inheritance is due to being 21 at the time his father died. The reason the heir refuses the settlement is because he feels if he does not accept it now, he would be entitled to the estate his mother will leave behind. The mother is trying to get this payment out of the way since their relationship is very rocky.

    No, this person isn’t disabled and is over 24 years of age at this time. Incidentally his mother does have a will.

    Thank you.

  • #3658

    Lex
    Keymaster

    It seems to me this would result in an interesting turn of events.

    He can certainly decline whatever he might be entitled to as a forced heir from his father’s estate.

    However, since he would no longer be a forced heir when his mother dies, the end result is that he would get nothing from either parent. That is, assuming the mother leaves him nothing in her will. If that is what she wants since the relationship is strained, she would have the last laugh.

  • #3742

    Old man of the sea
    Participant

    There was no mention of a Will executed by his Father that described the 30K inheritance…And if in that Will his Mother had full Usury of the estate.

    If in fact his Father had a Will and the Will stated he would inherit 30K, or if the 30K is based solely on the fact that he was 21 when his Father died and his Mother’s Will excludes him, then he most certainly should accept the 30K, and demand it now.

  • #3822

    Old man of the sea
    Participant

    Friends…ALWaYS take the money first thing while it is offered but be very carefull not to sign away your rights to more even tho it might take years to settle…Take the money but sign nothing…..take the money and after very careful examination perhaps sign something….but do so very carefully

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