Taxes

Learn about tax implications in estate planning. Discover how estate taxes, inheritance taxes, and strategic planning can impact your family's legacy.

What taxes apply to inherited assets?

Inherited assets may be subject to estate taxes at the federal level if the estate exceeds certain thresholds, and some states impose additional inheritance taxes. Beneficiaries typically receive inherited assets with a "stepped-up basis," meaning they're valued at current market value rather than the original purchase price. However, certain assets like traditional IRAs require beneficiaries to pay income taxes when distributions are taken.

Understanding the Nebraska Inheritance Tax
State

Understanding the Nebraska Inheritance Tax

Nebraska stands out because there isn’t a state-level estate tax in Nebraska anymore. Learn why and what that means.
SimplyTrustSimplyTrust EditorialNovember 20, 2025
Understanding Estate Tax in Nebraska
State

Understanding Estate Tax in Nebraska

Nebraska stands out because there isn’t a state-level estate tax in Nebraska anymore. Learn why and what that means.
SimplyTrustSimplyTrust EditorialNovember 19, 2025
A Quick Guide to the Minnesota Estate Tax
State

A Quick Guide to the Minnesota Estate Tax

Understand the Minnesota estate tax to protect your heirs and secure your legacy. Learn about exemptions and more.
SimplyTrustSimplyTrust EditorialNovember 13, 2025
The History of Inheritance Tax in Massachusetts
State

The History of Inheritance Tax in Massachusetts

Learn why there’s no inheritance tax in Massachusetts and why the commonwealth levies and estate tax instead.
SimplyTrustSimplyTrust EditorialNovember 11, 2025
Massachusetts Estate Tax: A Quick Overview
State

Massachusetts Estate Tax: A Quick Overview

Massachusetts estate tax applies to estates over $2 million, with a $99,600 credit that eliminates the old “cliff” effect for smaller estates.
SimplyTrustSimplyTrust EditorialNovember 10, 2025
Maryland Inheritance Tax: What To Know
State

Maryland Inheritance Tax: What To Know

Learn what the Maryland inheritance tax is, who pays it and how residents and property owners in Maryland can manage it.
SimplyTrustSimplyTrust EditorialNovember 6, 2025
Why There’s No Inheritance Tax in Maine
State

Why There’s No Inheritance Tax in Maine

Learn about why there’s no inheritance tax in Maine and why the state turned to an estate-tax only approach to estates.
SimplyTrustSimplyTrust EditorialNovember 3, 2025
An Overview of the Maine Estate Tax
State

An Overview of the Maine Estate Tax

Learn about the Maine estate tax, why the state levies one, and the tax rates and thresholds that impact residents and property owners.
SimplyTrustSimplyTrust EditorialOctober 31, 2025
Kentucky Inheritance Tax: What It Is and Who Pays
State

Kentucky Inheritance Tax: What It Is and Who Pays

The Kentucky inheritance tax affects estate planning. Understand its implications and explore strategies to minimize liabilities.
SimplyTrustSimplyTrust EditorialOctober 28, 2025
Why There’s No Estate Tax in Kentucky
State

Why There’s No Estate Tax in Kentucky

Learn why there’s no Kentucky estate tax, how estate tax differs from inheritance tax, and what practical steps you can take.
SimplyTrustSimplyTrust EditorialOctober 28, 2025
What Is Trust Jurisdiction and Why Does It Matter?
Trusts

What Is Trust Jurisdiction and Why Does It Matter?

Explore the importance of trust jurisdiction in estate planning, tax implications, and why choosing the right one matters.
SimplyTrustSimplyTrust EditorialOctober 27, 2025