Category: Estate Planning

Massachusetts taxes estates above 2,000,000 dollars, a threshold that was raised from 1,000,000 dollars for deaths on or after January 1, 2023. Above that amount, tax is owed only on the portion exceeding the exemption, not the entire estate. A will still needs two witnesses, and small estates may qualify for a simplified Voluntary Administration…

Maine imposes a state estate tax, but only above a multimillion-dollar exclusion amount that adjusts most years. For 2026, Maine Revenue Services lists the exclusion at 7,160,000 dollars, so most Maine estates owe no state estate tax. A valid will still needs two witnesses, and Maine offers both informal and formal probate. Whether you have…

Maryland is the only state that imposes both a state estate tax and a separate inheritance tax, so the same estate can face two different Maryland taxes depending on its size and who inherits. The estate tax exemption is 5 million dollars, and the inheritance tax is 10 percent for beneficiaries who are not close…

Louisiana is the only civil law state in the country, and its forced heirship rule under Civil Code Article 1493 can require you to leave a share of your estate to young or disabled children regardless of what your will says. Louisiana also recognizes two will formats, notarial and olographic, each with different signing rules.…

Kentucky is one of only a handful of states that still collects an inheritance tax, and the amount owed depends entirely on your relationship to the person who died. A valid Kentucky will needs your signature and two witnesses under KRS 394.040. Without a will, state law, not your family, decides who inherits. Whether you…

Estate planning in Iowa means signing a valid will under Iowa Code section 633.279 (two witnesses, no notary required to be valid), naming an executor and guardians, and deciding whether a trust is needed to skip probate. Iowa no longer collects an inheritance tax on deaths after January 1, 2025, but probate and intestacy rules…

Kansas charges no state estate tax and no inheritance tax, so your heirs will not owe Kansas tax on what they receive. A valid will still requires your signature plus two witnesses under K.S.A. 59-606. Without a will, Kansas intestacy law, not your wishes, decides who inherits your property. Whether you are raising a family…

Estate planning in Indiana means preparing a valid will, plus often a trust, financial and health care powers of attorney, so your assets pass as you intend. Indiana repealed its inheritance tax in 2013 and has no estate tax, but it does offer a small estate procedure that can spare families full probate. Estate planning…

Illinois is one of a small number of states with its own estate tax, applied separately from the federal estate tax and at a much lower exemption. A valid Illinois will must be signed by the testator and by two witnesses, each signing in the testator’s presence. Because Illinois taxes estates at a lower threshold…

Hawaii is one of a small number of states that charges its own estate tax, separate from the federal estate tax, with a fixed exemption that is not indexed to the federal amount. A valid Hawaii will must be signed by the testator and by two witnesses, or it can be entirely handwritten as a…