That’s particularly true in a handful of states where an inheritance tax still applies. Unlike federal estate taxes, which affect only the ultrawealthy, these state-level taxes can hit ordinary heirs.

California progressives are pushing a wealth tax that would skim 5 percent of the assets of billionaires to cover the state government's fiscal gap. That is, it would hit billionaires to start—there's ...

If you pass away and leave property, money or possessions to a loved one, your estate may owe a tax to the government. While there is no federal inheritance tax, some states do require that some ...

Giselle M. Cancio has over 10 years of editorial experience and content development in personal finance, education, travel, and sports. Her work has been published on NerdWallet, the Associated Press, ...

An inheritance tax is levied when a beneficiary inherits assets from the estate of someone who died. There is no federal inheritance tax, but five states currently levy this tax: Kentucky, Maryland, ...

The grieving process is always challenging. But for many families, the slow legal process of distributing an inheritance compounds emotional pain with financial uncertainty. When pressing needs for ...