Understanding the US Estate Tax: Key Facts and Figures

The estate tax is a tax on the value of a person's assets when they die, paid before the assets go to their heirs.

It's different from an inheritance tax, which the heirs pay.

In 2024, the federal estate tax applies to estates worth over $13.61 million.

If a tax bill from Trump passes, the amount exempt from the tax could increase permanently.

The tax rate increases as the estate's value increases.

Some states also have their own estate taxes.

It's a complex issue, and the rules can change.