If you die with more than $12.29M in your estate then yes. Now there are some ways to get money out of your estate. You could put it in an irrevocable trust, but then you don’t have access to the funds (hence irrevocable) or you could give it all to charity. Prolly other things, but that’s above my pay grade.

OR Congress could increase the estate exemption amount, which lots of wealthier folks would support.

CFP here (Certified Financial Planner). Inheritance is generally not taxed to the person who receives it. The deceased has to pay estate tax if their estate (everything they leave behind) is over $12,290,000. This amount is set by Congress and people try to avoid going over this amount as estate tax is super high (up to 40%!)

One strategy to avoid estate tax is through gifting. There is an annual gift amount that people can give while living that doesn’t count toward the exemption. This year it’s $17,000.