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Estate Planning Series* (5 of 7): Be Aware of your State’s Estate Tax Laws

Estate planning often helps to minimize estate and inheritance taxes. (But most 

people won’t pay those taxes)


LARGE ESTATES-At the federal level, only very large estates are subject to estate taxes. So what constitutes a “large estate?” 


The federal estate tax ranges from rates of 18% to 40% and generally only apply to assets over $13.61 million (in 2024).  If you have an estate that surpasses that amount, you may want to consider a Grantor Retained Annuity Trust (GRAT). This is a type of irrevocable trust that can help reduce the amount of taxes your heirs pay.


SOME STATES HAVE ESTATE TAXES-Check with your state estate tax laws


SOME STATES HAVE INHERITANCE TAXES-This means that the people who inherit your money might need to pay taxes on what they inherited. (Check with your state’s estate tax laws)



*PLEASE NOTE: 

This article is meant to provide background information and should not be considered legal guidance.


For more about our Estate Planning Team nd Services, reach out to us today:

(916) 572-1117 or Mickie.Giacomini@gmail.com







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