Legal Knowledge

Explore essential legal knowledge for estate planning, trusts, and family protection. Learn key concepts to make informed decisions about your estate documents.

How do I know if my estate will owe federal taxes?

Your estate will owe federal taxes only if it exceeds $15,000,000 for individuals or $30,000,000 for married couples. Most families fall well below these thresholds and won't face federal estate taxes. However, some states have their own estate or inheritance taxes with much lower thresholds. The federal estate tax rate is 40% on amounts above the exemption.