As we’ve described in a previous blog, estate tax is a one-time tax that affects some people upon their deaths. It is based on the total value of your assets. It includes things like bank accounts, real estate, and stocks. This tax is based on whether or not your total net worth is more than about 11.6 million dollars as of 2020. If your sum is less than that amount, then you are not charged an estate tax. If your sum is more than that, you will be taxed a percentage of 40% for any surplus amount that goes over.