The probate possible is notoriously slow, but with a little bit of foresight and careful planning, there are a few things you can do to fast-track it.
The type and amount of taxes you pay (if any) depends on the asset you inherit and the details of the estate.
“Inheritance tax,” “death tax,” and the “estate tax” are all terms which refer to the tax due on the transfer of assets to an heir or beneficiary after an estate owner dies. But they are not exactly the same things.
When I look back on my experience as an executor for my wife’s grandmother’s estate, there’s only one thing I wish I had done differently. I think the experience would’ve gone a lot more smoothly if I’d made an honest assessment of the emotional and mental health of the family members (beneficiaries) I was interacting with.