Estate Planning

July 10, 2018Louisiana does not impose any state inheritance or estate taxes. It’s also a community property estate, meaning it considers all the assets of a married couple jointly owned. If you’re looking for more guidance to navigate the complexities of  Louisiana inheritance laws, reading up on them beforehand will be a huge help. For professional guidance,… read more…

July 10, 2018Minnesota, like 11 other U.S. states and the District of Columbia, charges its own estate tax in addition to the federal estate tax. The rest of the state’s inheritance laws, though, are fairly standard and match the policies most other states have in place. If you want help navigating the complexities of estate planning, SmartAsset’s… read more…

July 10, 2018In addition to the federal estate tax, Washington State charges its own estate tax, though it does not have an inheritance tax. It also holds the fairly rare distinction of being a “community property” state, combining nearly all assets of anyone who’s married or in a domestic partnership. So if you live in Washington, it’s… read more…

July 10, 2018Pennsylvania is one of six U.S. states that still impose an inheritance tax, though the rest of Pennsylvania inheritance laws are fairly standard. There are also tight restrictions around what constitutes a valid will in the state, so be sure… read more…

July 10, 2018Whereas most states will categorize estate property depending on who specifically owns it, Arizona’s community and separate property laws muddy these waters a bit. On the bright side, Arizona inheritance laws do subject its residents and nonresidents who own property… read more…

July 10, 2018There are no estate or inheritance taxes in California. California inheritance laws, especially when there isn’t a valid will in place, can get a bit convoluted though. That’s why planning out your estate ahead of time is of paramount concern.… read more…

July 10, 2018Because there are no state-specific taxes in Georgia, it is a favorable state for you and your heirs to protect your estate. This policy is not indicative of Georgia inheritance laws overall, though, as they heavily depend on the property… read more…

July 10, 2018Virginia, like the majority of U.S. states, doesn’t charge a state inheritance or estate tax. The state does enforce a rare probate tax, though, should your estate need to go through that process. Smaller estates may not need to pass… read more…

July 10, 2018In Florida, there are no state taxes related to inheritance and the estates of those who have died. Below you’ll find detailed information about how the state handles its residents’ estates both when there’s a will present and not. Remember that heirs only receive what’s left of an estate after the decedent’s debts are paid… read more…

July 10, 2018Depending on whether or not you’ve prepared a valid will at the time of your death, Tennessee inheritance laws surrounding your estate will vary wildly. The state doesn’t have any of its own inheritance or estate taxes, though your property and assets may still be subject to the federal estate tax. A financial advisor can… read more…

July 10, 2018Texas does not impose a state inheritance or estate tax. Most of its laws surrounding inheritance are straightforward. However, if you die without a will, the distribution of your assets will be left up to the state’s intestate succession process.… read more…