As this Wall St. Journal story explains, many states have an inheritance tax and Illinois is one of them. The tax kicks in on estates of $2 million or more. We tend to pay attention to only the federal inheritance tax limit of $3.5 million. This is one reason to make your domicile in Florida if you have a large estate (since FL has no inheritance tax).

Related posts:

1. Watch Out for Illinois Estate Tax
2. Large trusts may owe IL inheritance tax in 09
3. Illinois 09 inheritance tax trap may be no more
4. What the candidates think about inheritance tax
5. Snowbird Guide-all about making FL your "home"