Ohio National Financial Services, Estate Planning

While many estates are able to escape the federal estate tax (i.e., estates less than the applicable exemption amount), these same estates are typically subject to the various state death taxes. No estate planning is complete without careful consideration of the effect of state death taxes on the estate.

There are three types of death taxes imposed by the different states. It is incumbent upon advisers to be familiar with the death tax regime in their clients' states. The three basic types of state death tax are:

Inheritance Tax

Estate Tax

Credit Tax

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