Paying inheritance tax: Only a few states in the U.S. impose an inheritance tax: Iowa, Kentucky, Maryland, Nebraska, New Jersey and Pennsylvania. Each state has different rules and exemption amounts.

Giving away some of your assets to potential beneficiaries before death. Each year, you can gift a certain amount to each person tax-free. In 2024, that annual gift exclusion was $18,000 and ...

Federal tax rates range between 18% and 40%, depending on the amount above the $13.61 million threshold, or exemption amount, per person in 2024 or $13.99 million in 2025. For each tax tier, you ...