Curious how much is inheritance tax? Most states don’t impose it, and those that do often provide exemptions to help reduce ...

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, ...

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.

If you choose to downsize to a cheaper property or sell your home to pay for care, you may worry you’ll lose valuable inheritance tax (IHT) allowances. More than six million adults are thinking about ...