Estate Tax

The United States Estate Tax is a tax imposed on the transfer of the "taxable estate" of a deceased person, whether property is transferred through a Last Will or by the laws of intestacy (when one dies without a will).

The estate tax is one part of the Unified Gift and Estate Tax system in the United States. The other part of the system, the gift tax, imposes a tax on transfers of property during a person's life; the gift tax prevents avoidance of the estate tax should a person want to give away his/her estate just before dying.

In addition to the federal government, many states also impose an estate tax, with the state version being called either an estate tax or an inheritance tax. Since the 1990s, the term “death tax" has been widely used by those who want to eliminate the estate tax, because the terminology used in discussing a political issue can affect popular opinion.

Not only do the laws Estate and Gift Taxes vary from state to state, they are considered to be some of the most complicated in the Internal Revenue Code. For further guidance, we strongly recommend that you visit with an estate tax attorney who has considerable experience in this field.