Answers to Five Inheritance Tax Questions

You just found out that you will inherit from a loved one s estate.  While this might be exciting news, it may also cause some concern.  Most people know that estate taxes are typically imposed.  Whether or not an heir has to pay any inheritance tax depends entirely on your state.  Since state laws are constantly changing, it would be wise to consult with your estate planning attorney if you are receiving an inheritance.  Here are the answers to five common inheritance tax questions. No. 1 – What is the inheritance Tax? The legal definition of inheritance tax is a tax imposed on money or assets received from the estate of another.  The rate of the tax that is imposed depends on the type of beneficiary you happen to be.  For example, spouses and lineal heirs (such as children) are typically taxed at a lower rate.  In some cases, certain heirs are exempt from inheritance taxes altogether. No. 2 Does California impose an inheritance tax? The federal government does not impose i


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