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Old 09-23-2008, 03:53 PM
Junior Member
 
Join Date: Sep 2008
Location: south NJ
Posts: 1
Will I Pay???

I am executor to my mother's will. Have been through probate. Have 2 sisters. Just sold mom's house for $225K.
1. After I divide the proceeds will I have to pay taxes on my share of the money?
2. and if so...Do I have a time limit in which to invest the money before being taxed on it?
3. and if so...what sort of options do I have? CD's, IRA's etc?

I'm being told different things by different people.(none of whom are qualified of course)
I plan on consulting a tax advisor, but thought I could get a few answers online.

Please assist.
Thank you,
T.



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