What is the name of your state?What is the name of your state? Ohio
My Grandfather passed away last May. My mother, aunt & uncle signed a waiver which they were told was to state that they were not contesting my grandfather's will which expressed his wishes that my grandmother received all of his interest in properties and his belongings. Now my grandmother is telling them that they need to sign another waiver so that her taxes will not be so high. In light of some suspicious events that have taken place (uncle was only child who got to meet with attorney, a quit claim deed was drawn up so that both properties are now in my Uncle's and Grandmother's names, and other "secretive" activities etc) my mother and aunt are very nervous about signing their names to anything. Could someone please answer the following for me...
1) what are the rules for inheritance tax responsibility in Ohio concerning spouses... I thought most states had exemptions so that taxes were not so harsh on the spouse?
2) would my grandmother's inheritance taxes be affected now that the deeds to the properties where changed to include my uncle's name?
3) why would my mother's and aunt's signature have any bearing on what my grandmother would owe in taxes? Would it be that my mother and aunt need to agree with the appraisals?
Thank you in advance for any insight you can give me.
My Grandfather passed away last May. My mother, aunt & uncle signed a waiver which they were told was to state that they were not contesting my grandfather's will which expressed his wishes that my grandmother received all of his interest in properties and his belongings. Now my grandmother is telling them that they need to sign another waiver so that her taxes will not be so high. In light of some suspicious events that have taken place (uncle was only child who got to meet with attorney, a quit claim deed was drawn up so that both properties are now in my Uncle's and Grandmother's names, and other "secretive" activities etc) my mother and aunt are very nervous about signing their names to anything. Could someone please answer the following for me...
1) what are the rules for inheritance tax responsibility in Ohio concerning spouses... I thought most states had exemptions so that taxes were not so harsh on the spouse?
2) would my grandmother's inheritance taxes be affected now that the deeds to the properties where changed to include my uncle's name?
3) why would my mother's and aunt's signature have any bearing on what my grandmother would owe in taxes? Would it be that my mother and aunt need to agree with the appraisals?
Thank you in advance for any insight you can give me.