What Death Taxes are Payable in Maryland?

Both the federal and state governments impose taxes upon the property/estate of a decedent. A federal estate tax with graduated rates is imposed on all property interests that the decedent owned at the time of death. The federal estate tax applies to probate assets and also to non-probate assets. For example, joint property and insurance proceeds are subject to taxes.

An estate may be subject to Maryland estate tax if the value of the assets exceeds the Maryland threshold for the year in which the decedent died. A properly drawn will or trust can reduce federal and Maryland estate tax substantially.

Maryland imposes an inheritance tax on probate property, joint property, and certain other property. There is no inheritance tax on assets passing to exempt charities, a spouse, child (which includes a stepchild or former stepchild), other lineal descendant (grandchild, great grandchild, etc.), parent, stepparent, brother, sister, son-in-law, daughter-in-law, or the spouse of other lineal descendants. Inheritance tax at the rate of 10 percent will be assessed if the recipient is a niece or nephew, a more distant relative or a non-relative.

For a free, confidential conversation to discuss this and other estate administration and planning matters, including Maryland probate administration legal services in all twenty-three counties, contact Maryland estate administration attorney Stephen J. Reichert at 410-299-4959, sreichert@reichertlegal.com or by clicking here.

Mr. Reichert can administer probate on behalf of the estate or for a modest fee he can be of assistance to the Personal Representative, as assistance is needed. For example, he can be available to give the correct legal answer and review or prepare probate filings before they are submitted to the county.

Day, evening and weekend appointments are available in office or at your residence. Mr. Reichert personally serves clients throughout the entire state of Maryland.

Attorney Reichert looks forward to assisting you with your Maryland probate and estate planning needs.