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.
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.
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.
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.
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.
Isn’t it changing in 2026?