Kenneth Vercammen, Esq is Chair of the ABA Elder Law Committee and presents seminars to attorneys and the public on Wills, Probate and other legal topics related to Estate Planning and Elder law. He is author of the ABA's book "Wills and Estate Administration. Kenneth Vercammen & Associates,
2053 Woodbridge Avenue - Edison, NJ 08817
(732) 572-0500 More information at www.njlaws.com/

Wednesday, July 06, 2016

An executor can be personally liable for the estate's estate tax liability


Executor Liability: An executor is personally liable for the estate's estate tax liability if the assets of the estate are distributed to the beneficiaries and the executor knew or should have known of the IRS's claim. CCA 201212020. In a recent case the executor was not held liable because the estate lacked assets to pay the tax and many assets were non-probate assets. Singer, TC Memo 2016- 48 (3/14/2016). Before doing a happy dance executors should consider the lia- bility they might face with new Form 8971.


source http://shenkmanlaw.com/uploads/2016/06/Practical-Planner-Apr-Jun-2016.pdf