Is it true that money left through wills is taxable?

This is a difficult subject but essentially it is true. Often called an inheritance or death tax, in many cases an inheritance or estate can be taxed up to 45%. It is important to consider the citizenship of both the benefactor and the deceased when understanding how the U.S. tax laws may apply. Sometimes it is better to set up an estate plan or give the money to any future heirs while the donor is still alive. This question and your exact circumstances would be best answered by a tax expert.