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Gonzaga University School of Law – Spokane, Washington – Class of 2002 – Cum Laude The Latin phrase “Deo patriae, scientiis, artibus” translates to “For God and country through sciences and arts”. The initials A.M.D.G. on the seal of Gonzaga Law School stand for Ad Majorem Dei Gloriam, which is Latin for “For the Greater Glory of God” the Motto of the Society of Jesus (Jesuits): a Catholic religious order founded by St. Ignatius of Loyola.
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Paying taxes associated with an estate when someone dies is crucial for several key reasons, and failing to do so can have significant consequences.
Why it’s Important to Pay Estate Taxes:
Legal Responsibility: The deceased person’s estate is responsible for settling any outstanding tax obligations, including federal and state income taxes, estate taxes (if applicable), and property taxes.
Executor’s Duty: The executor or personal representative of the estate is legally responsible for managing the estate’s assets, paying off debts (including tax debts), and distributing the remaining assets according to the deceased person’s wishes.
Preventing Financial Burden: Settling outstanding tax obligations prevents potential financial burdens from falling on loved ones.
Prioritizing Debts: Taxes are typically considered high-priority debts and must be paid before distributing assets to beneficiaries.
Avoiding Legal Consequences: Failure to file and pay required estate taxes can lead to severe consequences from the IRS or state tax authorities.
What Happens if You Don’t Pay Estate Taxes:
IRS Pursuit: The IRS or other relevant tax authorities can pursue the estate for unpaid taxes, potentially for up to 10 years or longer in some cases.
Tax Liens: The IRS may place a lien against the estate’s assets, meaning these taxes must be paid before any other debts are settled or accounts are closed.
Penalties and Interest: Unpaid taxes can accrue penalties and interest, significantly increasing the amount owed.
Executor Liability: The executor can be held personally liable for unpaid taxes, especially if they distributed estate assets to heirs knowing about the outstanding tax debts.
Seizure of Assets: In extreme cases, the IRS can seize assets from the estate to satisfy the tax debt.
Impact on Beneficiaries: Beneficiaries may face delays in receiving their inheritance or a reduction in the amount they receive if estate taxes remain unpaid.
Personal Liability for Surviving Spouse: In certain situations, such as when a joint tax return was filed, a surviving spouse may be responsible for the deceased partner’s tax debts.
In summary, fulfilling estate tax obligations is a critical part of estate administration. By ensuring all taxes are properly filed and paid, you can protect the estate, avoid significant penalties and interest, and prevent potential financial liabilities for yourself and the beneficiaries.
To Always Be a Human Being First, and My Role Second. To First, Do No Harm, then to provide the best legal outcome, smoothest process, best value, and to make a positive difference in the life of every client.
Christopher S. Mulvaney’s Mantra:
May I be filled with loving kindness for all life. May I be safe from dangers within and without. May I be healthy in body, mind, socially, and spiritually. May I be at ease and happy, doing good in the world.
May You be filled with loving kindness for all life. May You be safe from dangers within and without. May You be healthy in body, mind, socially, and spiritually. May You be at ease and happy, doing good in the world.
I am an experienced solo estate planning, debtor bankruptcy, and real estate attorney. At my law firm in Bellevue, Washington between Eastgate and Factoria, I do things a little differently. I am passionate about helping people take control of their lives.
One of my primary practice areas is urgent (bankruptcy), and the other is important, but not urgent (estate planning). Not letting the urgent crowd out the important is key. I have made a choice to include the positive difference I make in the life of each client in how I calculate profit. This means I have higher job satisfaction, and happy clients who confidently give referrals.
My goal is that my work is transformative for people during a challenging time in their lives. At Mulvaney Law Offices, PLLC (MLO), you will not find a gatekeeper. There are no forgotten cases hiding on an associate’s cluttered desk. It’s just me, working with each one of my clients one-on-one to resolve their legal concerns as favorably as possible.
As your lawyer, I will personally handle every aspect of your case. My office is not a factory churning out thousands of filings per year, where each case matters little. You, and your case, matter to me. You can see what clients have said about me, and leave your own reviews at these links.
Mulvaney Law Offices, PLLC is located in Bellevue, Washington, representing estate planning & chapter 7 and chapter 13 bankruptcy, clients in all 39 Washington Counties.
Washington State residents can meet with me in Zoom/DocuSign from anywhere in the world, and I can notarize their electronic signatures because I am a remote online notary. Just email me an image of your photo ID.
