I know there are some accountants out there - and maybe a lawyer or two...

I'm in NJ - so is my mother. She is starting to think about transferring assets to her children to avoid us having to pay inheritance tax 'when that time comes'. So - couple of questions.

1) is every inheritance dollar taxed - or only over a certain limit? Is it based on the value of the estate - or amount given to each child?

2) what is that percentage?

3) is it generally a wise thing to tranfer ownership of her primary household - or keep it in her name?

TIA