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Reply to "Best thing to do with 8mil inheritance?"
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[quote=Anonymous]Are you the executor? Or just a beneficiary? The executor will need to work with a lawyer on the tax issue. Over $5mil is subject to federal estate taxes. Some states have taxes as well. In some states, the person inheriting the money has to pay taxes. You really need a good accountant and a financial planner. At this point, I'd recommend letting the money stay in whatever form you get it (stocks, bonds, real estate) while you get educated, first on all the tax implications for settling the estate, and later in your options for investing the money. [/quote]
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