A few practical steps, such as establishing your financial independence and asking questions, can help you avoid inheritance pitfalls.

Wealthy individuals often pay less in inheritance taxes than we expect. Learn how tax exemptions, trusts, and legal strategies help reduce their tax burden and what it means for estate planning ...

With the passage of the Tax Cuts and Jobs Act of 2017 at the end of last year, the federal estate, gift and generation-skipping tax exemptions doubled to $11.18 million per person. That means that ...

Inheritance tax planning is not a one-off. It is immeasurably important to review and where necessary amend plans. Legislation and rules change continuously, and more importantly so do individuals ...

As of 2025, twelve states plus the District of Columbia levy an estate tax, while five levy inheritance taxes. Determining Cost Basis Cost basis replaces the original value used for tax purposes ...

A. We’re glad you’re trying to plan ahead. You do have some options, but it will take some planning. Let’s start at the beginning. The New Jersey inheritance tax is a tax levied on certain ...