Estate Tax

Many people worry about estate taxes -- the taxes your estate pays after you die. However, currently very few estates end up paying estate taxes because the federal estate taxes only apply to the very rich, and most states don't have estate taxes. So unless your estate is larger than $11 million, or you live in one of the few states where estate taxes affect more modest estates, you shouldn't need to worry about estate taxes.

Here, find out whether or not your estate is likely to owe tax, and if so, how you can take steps now to minimize the bill.

Separately, just a few states still impose a separate inheritance tax. How much inheritance tax you pay depends, unlike an estate tax, on how closely you were related to the person who left you money.

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