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We currently have an inheritance of $104k coming in, it currently is in an annuity leftover from mother in laws estate. We just received a letter today stating that we can take it in a lump sum of 60k and another lump sum of 44k, or receive it in monthly installments of 900 per month, and 700 per month respectively, neither of those options is really what we want to do, we really only want to take 9k cash out, and invest/save the rest. We realize that we owe 4.5 percent inheritance tax, but how much is owed in federal tax? Just trying to figure out other options before meeting with insurance reps.
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