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, ...

State inheritance taxes can affect heirs even when federal estate taxes are avoided, making careful planning essential.

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.

Giving some of your estate away to charity can save your family thousands in inheritance tax. But common pitfalls could mean ...

Forbes contributors publish independent expert analyses and insights. I am the President of Diversified, a CFP and author. Without these in place, your estate could get tied up in legal red tape, ...