What is an estate or inheritance tax?

Answer The federal United States government imposes estate tax on the value of a deceased person's estate. This tax allows the property to transfer to beneficiaries. In some states, the beneficiaries have... Read More »

Top Q&A For: What is an estate or inheritance tax

When do you have to pay an inheritance or estate tax?

In 2009, only estates that were valued at $3,500,000 or more were subject to the estate tax. However, the tax is not levied if the entire estate goes to the spouse of the decedent or to a charity.R... Read More »

What is the Difference Between Estate Tax & Inheritance Tax in Maryland?

Estate taxes and inheritance taxes are collected separately. Estate tax is the tax paid on a decedent's entire estate. Inheritance tax is the tax paid on the money or property a person inherits fro... Read More »

What is the difference between estate tax and inheritance tax in Maryland?

Maryland's inheritance tax applies to any property passed from a deceased person to his or her beneficiaries, with some exceptions. Maryland's estate tax only applies to estates with a passed on va... Read More »

Can one sibling be selected to be executor of the estate even though all 5 children have been assigned as executors of the estate?

Generally there are only one or two Executors to a Will. Executor (male) or Executrix (female.) It is odd there should be five Executors. An Executor/Executrix has the right to decline to handle th... Read More »