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Yes at the federal level, absent prior lifetime gifts in excess of annual exclusions which effectively lower that $5.25M amount.


In the hypothetical of...

- an estate value less than $5.25M,
- no lifetime gifts,
- the estate is in a state without any estate tax,
- the estate is in a state without any inheritance tax,
- there's no federal inheritance tax,

...other tax liability might include federal/state income tax on any cash that transfers from the deceased to an heir, and capital gains tax on, for example, land that an heir sells.


Circular 230 Disclaimer - I'm a moron posting on the intermawebz, check with a real attorney/advisor, the IRS can roast you if you just rely on me and I'm wrong.

Duly noted. Any moron would be a moron for not at least obtaining a consultation with an attorney or accountant specializing in such matters prior to making final conclusions.
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