Message Font: Serif | Sans-Serif
No. of Recommendations: 1
I believe a couple of states still have an estate or inheritance tax. These are based on the value of the estate or inheritance received. So you might want to check any state laws.

And here in New Jersey, there is both an estate tax and an inheritance tax. My attorney warned me about this when I had her draw up my most recent will. So I assigned beneficiaries to my to life insurance policies and my two IRAs (std and Roth), so they are not part of my estate. My beneficiaries may have to pay the state inheritance tax, but the estate will not need to pay the estate tax.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.