An inheritance can add to your finances, but taxes may reduce the amount that reaches you. Some states tax beneficiaries directly, while separate estate taxes may apply before assets are distributed.

If you pass away and leave property, money or possessions to a loved one, your estate may owe a tax to the government. While there is no federal inheritance tax, some states do require that some ...

Looming inheritance tax changes will limit how much pension wealth can be passed on but more people may now be maxing out their loved ones’ JISA allowance instead.