The total value of a decedent's money and property is used to calculate the estate tax. Before any assets are transferred to beneficiaries, it is subtracted from the decedent's assets. On the other hand, the portion of an estate worth more than $11.4 million is liable to a 40% federal estate tax. One of the benefits of an estate tax is that it is collected before the distribution of the inheritance, so you won't have to worry about it.