Sentences with phrase «separate state inheritance»

Also, a number of states impose separate state inheritance and / or estate taxes.)

Not exact matches

Inheritance tax is separate to the estate tax, in that it is not imposed by the federal government, but instead belongs to the state.

However, many states have a separate inheritance or estate tax with a much lower threshold.

However, many states have a separate inheritance or estate tax with a much lower threshold.

California is a community property state, so California divorce courts divide property acquired during the marriage, except property a spouse acquired by gift or inheritance since this property is considered that spouse's separate property.

If you live in a state that recognizes separate property and you own a home prior to your marriage or acquire it during your marriage by inheritance or gift, your house remains separate property.

If you live in a community property state — Arizona, California, Louisiana, New Mexico, Nevada, Idaho, Texas, Washington or Wisconsin — assets and debts you acquire during your marriage belong equally to both spouses, except in certain narrow circumstances, such as assets acquired by inheritance or gift that you kept separate from your marital assets.

Most states take the position that property acquired by either spouse before the marriage, as well as most property received as inheritance or gift during the marriage, is deemed «separate property» and not subject to division.