▲ 33 r/inheritance
Inherited bank accounts
In the US. Mom was in OK, I’m in TX. Probate should be ending soon. Bank accounts were frozen at her death. Sibling and I have been told by the attorney that accounts will be split between us after probate is over. I don’t know how much is in the accounts but probably over $1M. What are the tax implications here? I know there are FDIC limits and my share will likely need to be split amongst accounts and then invested somehow. This will be determined later with professional advice. Just wondering about immediate tax implications with large cash inheritance and deposits.
u/EmotionalStar9909 — 7 days ago