SmartMoney just published "Estate Taxes: The Worst Places to Die" and New Jersey takes the number one spot.
16 states and Washington DC have an estate tax seperate from the federal estate tax (which has a current exemption amount of $5 million per person for deaths in 2011-2012). The article specifies that these exemptions range from $338,333 for Ohio residents to $5 million for Hawaii and North Carolina residents:
* Three states have exemptions of less than $1 million (Ohio at $338,333; New Jersey at $675,000; and Rhode Island at $850,000).
Please see full article below for more information.
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Tax Law Updates, Wills, Trusts, & Estate Planning Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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