Do You Have to Pay Tax on a Large Inheritance

[@glennmccarthy7637]

Illinois has an inheritance tax on the entire value of the estate above $4M, tax is 16% on everything above $4M. That's the easy answer. The property has to be appraised, stocks appraised, contents of buildings appraised, cars appraised, etc.

[@todddunn945]

The federal estate tax, if any, is paid by the estate, not by the inheritor. It may feel like you are paying that tax, but technically you are not.

[@cajunoneforchrist4545]

Securities and Cash a rough guess would be between 45 & 60 million and the State of Louisiana Unclaimed Funds sent a claim form for me to print out and sign. I did so six weeks ago so for the only thing that has come in the mail is what I owe in back child support and we are using the Federal Administration Offset Process to claim it. Do you have any advice. Shane D.

[@MrChuckwagon55]

Isn’t it changing in 2026?