WebSep 1, 2024 · Manage expectations. Another reason to discuss your estate plan with your children is to manage their expectations about what they will receive. The best way to avoid a child’s disappointment and hurt feelings is to let them know your plan for their inheritance, and the reasons for it, ahead of time. This gives them time to consider your ... WebMar 17, 2024 · Introduction. An inheritance tax is a state tax that you pay when you receive money or property from the estate of a deceased person. Unlike the federal estate tax, the beneficiary of the property is responsible for paying the tax, not the estate. As of 2024, only six states impose an inheritance tax. And even if you live in one of those states ...
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