Definitions for "Inheritance taxes"
Taxes assessed on the value of inherited property and imposed on the people or organizations who inherit the property.
Inheritance taxes are taxes that your beneficiaries may be required to pay by state and federal agencies in order to legally receive assets that you leave them after your death. Inheritance taxes can be legally reduced with wise estate planning.
These are taxes that are imposed by the states and act the same as estate taxes but paid by the person inhereting the assets. California does not have such a tax.
Inheritors