Tag Archives: inheritance tax

Top 10 Mistakes People Make in Estate Planning, Wills and Trusts: # 8 – Failure to Plan for Taxes

There are several types of tax that may apply when a person dies. Failure to plan for these may result in higher taxes, imposition of penalties or interest, and lost opportunities. Some of these taxes are: Federal & State Income … Continue reading

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What is an “Estate Tax” or an “Inheritance Tax”?

The estate tax and the inheritance tax are both taxes imposed on property when a person dies.  There are three types of tax that might effect an inheritance: state and federal income tax, state inheritance tax, and federal estate tax. … Continue reading

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