Examine the taxation of estates in your home state (or a state you would consider living in), and another state. From an estate tax planning perspective, which state has more favorable tax laws? For example, do the states have an estate tax and/or an inheritance tax? If so, is there an exemption amount and what is it? What are the applicable tax rates? For this discussion, ensure at least one of the states has an estate and/or inheritance tax for comparison purposes.
chapters 27 & 28 in South-Western Federal Taxation 2019
Imposition of Tax, 26 U.S. Code § 641
Imposition of Tax, 26 U.S. Code § 2501
McCormick, P. (2017). Key estate planning concepts for international clients. Estate Planning, 44(6), 18-21.
Saylor, T. (2017, April). How to avoid inheritance mistakes. Journal of Accountancy. Retrieved from https://www.journalofaccountancy.com/newsletters/2017/apr/avoid-inheritance-mistakes.html
IRS.gov. (2018a). Definition of a trust. Internal Revenue Service. Retrieved from https://www.irs.gov/charities-non-profits/definition-of-a-trust
IRS.gov. (2018b). Estate tax. Internal Revenue Service. Retrieved from https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
Tax Cuts and Jobs Act of 2017, Pub. L. 115-97. (2017). Retrieved from https://www.congress.gov/115/bills/hr1/BILLS-115hr1enr.pdf
Vanguard. (2018, February 26). Tax and estate planning in a changing environment: The new rules' effect on estate and gift taxes. [Video file]. Retrieved from: https://youtu.be/3gL1TyD0xJ4