You're Probably Looking at the Wrong Estate Tax
About this episode
The episode discusses the impact of state-level estate and inheritance taxes on retirees and the importance of location in wealth transfer.
Unless you're listening to this while flying in your own Gulfstream, federal estate taxes probably aren't something you need to worry about. In 2026, they only apply to estates over $15 million, or $30 million for married couples, so they impact a very small percentage of people. But state-level estate and inheritance taxes are a different story. In this episode, we break down how these lesser-known taxes work, which states still impose them, and why they can catch even well-prepared retirees off guard. While many states have eliminated these taxes to keep retirees from leaving, 12 states plus Washington, D.C. still have estate taxes, and five have inheritance taxes. Maryland is the only state that has both. If your goal is to pass on wealth efficiently, where you live could matter more than you think. Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms. 📍Contact Devin's team at https://carrolladvisory.co/podcast1 📍Contact John's team at https://www.rossandshoalmire.com/ If you're thinking, "I love the Big Picture Retirement podcast!" please consider rating and reviewing this show! This helps…
People in this episode
Hosts: Devin Carroll, John Ross
Topics covered
- estate tax
- inheritance tax
- state taxes
- retirement planning
- wealth transfer
Keywords
- estate tax
- inheritance tax
- retirement
- wealth transfer
- state taxes
Mentioned in this episode
Places: Maryland, Washington, D.C., United States
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