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, ...

When someone passes away, and leaves their belongings to others, an inheritance tax may apply. In a nutshell, inheritance tax is typically paid by the heirs or beneficiaries who receive the assets, as ...

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.

A family has been ordered to pay £176,000 in inheritance tax by the court after wrongly interpreting gifting rules, which they thought would mean they avoided a bill after their father died. The ...

A growing number of couples are choosing to get married in retirement because of Rachel Reeves’s inheritance tax reforms.