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Estate Taxes

Navigation:  Home > Probate, Trusts, and Estate Law >Estate Taxes

 

Believe it or not, in most situations, estate taxes will not have to be paid by your inheritors. In fact, unless your property is worth more than $1.5 million, your estate will not have to pay taxes. Also, any property left to a spouse is exempt from taxes, as well as any property left to a tax-exempt charity.

However, a few states do have inheritance taxes where they person inheriting the estate will have to pay a certain amount of taxes, depending on your relationship to the inheritor (the closer to the relative, the less taxes in general).

Nevertheless, many states do impose an estate tax, and because of the current tax structure, state estate taxes are on the rise.

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