cessna214[at]aol.com wrote:
- quote -


Best to query the lawyer helping you out, since we deal with tax
questions here and not legal ones.

But with only about 5,000 in taxes, would a bank want to make a loan
with house as collateral for that small amount?

ChEAr$,
Harlan Lunsford, EA n LA

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cessna214[at]aol.com wrote:

- quote -

This is more a legal question than a tax question. And the answer may
depend on the laws of the state you are in. In California you can do
that, but may need to get court approval first.

Why don't you just sell the house? There are likely to be additional
expenses for the estate to pay as well, and that may be the best way to
provide liquidity.

Stu

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Hi
I have a question and any advice is greatly appricated.
Im an executor of my father's estate and i created an estate checking
account using an EIN.
My father had assets, a home and a car.and two bank accounts
if i sell his car i may get 1500.00. He also had two bank accounts
worth about 1000 combined.
His estate is going to owe about 5000.00 in inheritance tax.
my question is....can i borrow money against the house to pay the
inheritance tax??

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >