Benjamin Franklin referred to death and taxes as "the only certainties in life." And the inheritance tax touches on both. It's a levy on money, property or other assets a person leaves to others after ...

An inheritance can add to your finances, but taxes may reduce the amount that reaches you. Some states tax beneficiaries directly, while separate estate taxes may apply before assets are distributed.

Short Answer: In 2024, only six states charged inheritance tax, and the number will drop to five in 2025. Find inheritance tax rates and exemptions below. An inheritance usually comes with the loss of ...