Inheritance Tax 2024 Limits. You can legally avoid inheritance tax by giving away gifts while you're alive. Tax on property, money and shares you inherit;

Federal tax rates range between 18% and 40%, depending on the amount above the $12.92 million threshold, or exemption amount, per person in 2023 or $13.61 million in 2024. Inheritance tax is a levy applied to the estate of someone who has died, but only around 4 per cent of families end up paying it, as most estates fall below the tax threshold.