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Learn... Plan... Protect Your Estate

Steps to Build Plan
  Step 1 - Organize documents
  Step 2 - Get educated
  Step 3 - Inventory
  Step 4 - Determine goals
  Step 5 - Develop plan
  Step 6 - Review plan
  Step 7 - Take action
  Step 8 - Get help
Estate Plan Items
  Death Will
  Guardianship
  Power of Attorney
  Health Care Directive
  Living Will
  Charitable Giving
  Gifting
  Trusts
  Asset Distribution
  Burial Instructions
  Beneficiaries
  Executor
Best states to die in?

Everyone knows what the federal estate tax limits are. If not, you should find out. But, did you know that the state you die in can affect your estate? While 26 states currently have no state estate tax, 19 states plus the District of Columbia have estate taxes. Another eight states charge the beneficiaries an inheritance tax. Of those totals, there are three states that tax your estate and charge your beneficiaries an inheritance tax. Make sure you carefully consider where you die if you have a large, taxable estate.

State Estate Tax? Inheritance Tax?
Alabama No No
Alaska No No
Arizona No No
Arkansas No No
California No No
Colorado No No
Connecticut No Yes
Delaware No No
Florida No No
Georgia No No
Hawaii No No
Idaho No No
Illinois Yes No
Indiana No Yes
Iowa No Yes
Kansas Yes No
Kentucky No Yes
Louisiana No No
Maine Yes No
Maryland Yes Yes
Massachusetts Yes No
Michigan No No
Minnesota Yes No
Mississippi No No
Missouri No No
Montana No No
Nebraska Yes Yes
Nevada No No
New Hampshire No No
New Jersey Yes Yes
New Mexico No No
New York Yes No
North Carolina * Yes No
North Dakota No No
Ohio Yes No
Oklahoma Yes No
Oregon Yes No
Pennsylvania No Yes
Rhode Island Yes No
South Carolina No No
South Dakota No No
Tennessee Yes No
Texas No No
Utah No No
Vermont Yes No
Virginia Yes No
Washington Yes No
Washington D.C. No No
West Virginia No No
Wisconsin Yes No
Wyoming No No


* North Carolina's estate tax will disappear July 1, 2005