What if I have a very large estate?
You may want to consult an attorney if:
1) Your estate is valued at more than the federal estate tax exemption amount (currently at approximately $11.2 million for an individual, but liable to fluctuate). For more information: https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax.
2) Your estate is worth millions and you live in a state with estate or inheritance taxes. For more information: https://www.nolo.com/legal-encyclopedia/state-estate-taxes.html; https://www.nolo.com/legal-encyclopedia/state-inheritance-taxes.html.