Frequently Asked Questions > Independent Executors > This estate exceeds the amount a person may transfer tax-free at death. Do I need to file a return with the IRS and/or with the state in this regard?
What do I do if taxes are due and how will I know if taxes are due? If you believe that the estate exceeds the amount a person can pass tax-free at death (that amount depends on the year in which the decedent died), you should seek the assistance of a tax professional to advise you. Your attorney can help you with this. Generally, if the value of the assets in the estate exceed the amount a person can pass tax-free at death, the independent executor must prepare and file a federal estate tax return and a state inheritance tax return and, if taxes are due, pay the tax. This is a complicated process and you should seek the help of a tax professional to assist you with this.
Last updated on January 6, 2011 by Glenn Karisch