Federal estate tax
For 2026, each person can pass $15 million free of federal estate tax. Federal law passed in 2025 made this exemption permanent and indexed it for inflation. Married couples can often combine their exemptions through portability, which requires filing an estate tax return at the first spouse's death.
Maryland estate and inheritance tax
Maryland has its own estate tax, which applies to estates above $5 million. Maryland also has an inheritance tax that can apply to property left to some beneficiaries outside the immediate family. Maryland families often need planning well below the federal threshold.
California
California has no state estate tax or inheritance tax. California families with larger estates still need to plan for the federal estate tax, and for property they own in other states.
What planning can include
- Trusts that preserve both spouses' exemptions
- Lifetime gifting strategies
- Irrevocable trusts for life insurance
- Planning for business interests and real estate in more than one state
Every strategy depends on your numbers and your goals. We work with your CPA and financial advisor so the plan fits together.