Many people are surprised to hear that taxation is usually not much of a problem when an estate is being distributed to the heirs. There are no income taxes on inheritances, and if you inherit appreciated assets, you get a step up in basis. This means that you would not have to pay capital gains tax on gains that accumulated during the life of the decedent. A tax that can take a heavy toll if you are exposed is the federal estate tax. It carries a whopping 40 percent maximum rate, but you … [Read more...] about Is There a Connecticut Estate Tax?