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The personal representative needs to pay attention to other taxes in the probate process as well, such as local real estate and personal property taxes, business taxes, and any special state taxes.or state purposes, the personal representative (also called the executor or administrator) must file the appropriate state income tax return (assuming the decedent was required to do so while living) and any state income tax returns for the estate during the probate period.
A simple probate-avoidance living trust has no effect on state or federal estate taxes. Keep in mind that for deaths in 2015, only estates worth more than $5.43 million will owe federal estate tax. This means that very few people have to worry about this tax.This exemption amount will increase with inflation. In the past, AB trusts were used to help couples save on estate taxes. However, the large personal exemption and portability for spouses make AB trusts largely unnecessary.To learn more, read Nolo's article Tax-Saving AB Trusts. simple probate-avoidance living trust has no effect on state or federal estate taxes. Keep in mind that for deaths in 2015, only estates worth more than $5.43 million will owe federal estate tax. This means that very few people have to worry about this tax.