If your estate is taxable for state and/or federal estate tax purposes, then you'll need to understand who will be responsible for signing and filing your estate tax return and writing the check to the IRS and/or state taxing authorities. Will it be your Personal Representative, Successor Trustee, or each individual beneficiary? The answer depends on whether or not your estate is subject to probate.
What Happens if Your Estate is Subject to Probate?
If your estate is subject to probate and you died intestate or only had a Last Will and Testament, then your Personal Representative will be responsible for signing and filing your estate tax return with the IRS and/or state taxing authorities and also signing the check to pay the taxes.
If your estate is subject to probate and you have both a Pour Over Will and Revocable Living Trust, then your Personal Representative will be responsible for signing and filing your estate tax return with the IRS and/or state taxing authorities and also signing the check to pay the taxes.
What Happens if Your Estate Isn't Subject to Probate?
If you don't have an estate plan and your estate isn't subject to probate, then each individual beneficiary will be responsible for signing and filing your estate tax return with the IRS and/or state taxing authorities and also signing the check to pay the taxes.If you only have a Last Will and Testament but your estate isn't subject to probate, then each individual beneficiary will be responsible for signing and filing your estate tax return with the IRS and/or state taxing authorities and also signing the check to pay the taxes.
If your estate isn't subject to probate and you have both a Pour Over Will and Revocable Living Trust, then your Successor Trustee will be responsible for signing and filing your estate tax return with the IRS and/or state taxing authorities and also signing the check to pay the taxes.
