ESTATE TAXES

Estate taxes are taxes imposed on the total value of a person's money and property after they die, before it’s passed on to heirs. They apply only if the estate exceeds a certain value threshold, which varies by country and state. In the U.S., for example, estates under a certain size (over $13 million in 2025 for individuals) are not taxed federally, though some states have their own lower limits and separate estate or inheritance taxes.

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In short: estate taxes affect large estates and reduce the amount passed to beneficiaries, making planning important to minimize their impact.