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I've also seen different information on what percentage we (the heirs) will pay on the profit. One source said 15% if the taxpayer's income was $35k or less and 25% if it was higher.

the gain flows through to the heirs' 1040's in 2012 it will be taxed at 0% (15% bracket and below) or 15% (all others). As of today, 2013 LTCG are taxed at 10% and 25% respectively, except for the "super" LTCG (greater than 5 year holding period), which are, I beleive, 8% and 18%.

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