Your mother needs to consult a local attorney who practices in tax and estate planning to determine her options. Once fully informed, her attorney should be able to develop for her a tax efficient plan to pass the real estate and any other property to you and your sister, assuming it is her desire to do so.
Yoak Law, P.A. is a business and tax law firm serving clients throughout the State of Florida. If you need help with a legal issue, call (727) 451-9455 to schedule a free consultation. Mr. Yoak is licensed to practice law in Florida. The response herein is not legal advice and does not create an attorney/client relationship. The response is in the form of legal education and is intended to provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that, if known, could significantly change the reply and make it unsuitable. You are strongly advised to confer directly with an attorney to insure the proper advice is received and the appropriate action is timely taken.
Georgia does not have an inheritance tax, but if your mother is fairly wealthy ($5 million+) then there might be an estate tax issue. She definitely needs to consult with an attorney to put together an estate plan. This way she can make it much easier on you and your sister, and also plan to reduce or eliminate the estate tax, if possible.
As has been pointed out, GA has no state inheritance tax. The federal estate tax exemption for 2013 is $5,250,000. If your mother's estate is larger than this, you need to seek an estate planning attorney and consult an accountant, to provide professional tax advice. Avvo is a great site, but if your mother has this size wealth, you need to seek individual, professional, tax advice.