Two words have the power to make almost anyone cringe: “death” and “taxes.” Combine them and they sound particularly ominous. Even worse, not everyone really understands what death taxes are, or if they’re subject to them. It depends to some extent on where you live and just how much you own of value when you die.
Technically, there are two “death taxes,” so even if one doesn’t get you, the other might. Estate taxes can be imposed at both the federal level and at the state level.
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