The subject of taxation on inheritances can be a bit confusing. There are federal taxes, and you hear about state-level taxes. In this post, we will explain how an out-of-state tax can affect a resident of Oklahoma. Inheritance Tax An inheritance tax and an estate tax are two different types of taxes that can be levied when someone dies. Here we will look at the inheritance tax first. This tax can be imposed on transfers to each individual inheritor when one's estate is being … [Read more...] about Can an Out of State Inheritance Tax Affect You?
If you inherit property in Oklahoma, or if you are leaving property to a loved one within this state, it is important to understand the rules for inheritance tax in Oklahoma. While the state does not impose an inheritance tax, or an estate tax, this does not mean that no taxes are assessed as a result of a death. You should talk with an experienced attorney about how best to protect your inheritance or the wealth you are leaving to loved ones so you can reduce taxes or avoid taxes … [Read more...] about Do You Ever Pay an Inheritance Tax in Oklahoma?
A will, also called a last will and testament, can help you protect your family and your property. This infographic shows you the requirements for a last will and testament in Oklahoma, its purposes, and it also answers the question, "What happens if I die without a will in Oklahoma?" … [Read more...] about Wills in Oklahoma [Infographic]