If you want to leave your heirs as much money as possible, you should probably die in a state with no estate tax or inheritance tax. If you can’t die in a stat with no estate tax or no inheritance tax, then at least die in one that has a very high estate threshold before these taxes kick in!
Although taxes are astronomically high in California, one positive is that it has no estate tax upon death. As it turns out, the majority of U.S. states do not collect an estate tax. This is good because there is already a federal estate tax that tops out at 40%.
Let’s take a look at the list of states with no estate tax, also sometimes known as the death tax. We’ll also look at states that have no estate tax and no income tax.
Finally, I’ll highlight my top five states to have legal residence in when you die based on the combination of low taxes, natural beauty, and opportunity for your heirs. After all, you want to think about those who carry your proud name long after you’re gone.
