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A federal (and sometimes state) tax on very large estates passed at death.
The federal estate tax applies only to estates above a high exemption threshold, so it affects a small share of households, though some states impose their own estate or inheritance taxes at lower thresholds. Married couples can combine exemptions. Most estate planning for typical households focuses on avoiding probate rather than estate tax.
Estates below the federal exemption owe no federal estate tax.
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