If you are wondering about the tax implications of money you receive in an inheritance, you may benefit from an IRS tool that can help answer some of your questions. The tool will only go so far — you ...

An inheritance tax is levied when a beneficiary inherits assets from the estate of someone who died. There is no federal inheritance tax, but five states currently levy this tax: Kentucky, Maryland, ...

More than four in five people thought the value of everyday items was too high in a test by a probate and chattel valuer.

That’s particularly true in a handful of states where an inheritance tax still applies. Unlike federal estate taxes, which affect only the ultrawealthy, these state-level taxes can hit ordinary heirs.

I’ve read that it makes sense to have a joint bank account with someone that you hold a lasting power of attorney (LPA) for.

A $50,000 transfer from the inheritance tax fund will prop up the indigent fund while Dodge County officials repay tax disbursements that were inadvertently shorted to 47 entities in 2011 and 2012.