When navigating a difficult end-of-life transition, money is likely the last thing grieving loved ones want on their minds, particularly with something as uninviting as taxes.
An inheritance tax is a tax burden an individual may owe after inheriting money or other assets.Inheritance taxes are similar to estate taxes, which many Americans might more easily recognize.
By familiarizing yourself with concepts like inheritance tax ahead of time, you can prepare yourself and those close to you to ease some of the difficulty.