SmartAsset: Prov. County has the largest inheritance sums

SMARTASSET RANKED the counties in Rhode Island according to where inheritance sums and life insurance payouts were the largest. Providence County ranked first in both categories. / COURTESY SMARTASSET
SMARTASSET RANKED the counties in Rhode Island according to where inheritance sums and life insurance payouts were the largest. Providence County ranked first in both categories. / COURTESY SMARTASSET

PROVIDENCE – In Rhode Island, Providence County has the largest annual inheritance sums at approximately $1.21 billion, according to SmartAsset.

SmartAsset, a financial technology company, looked at data from 2012 on wealth transfers made during estate settlements and life insurance payouts, to find the counties with the largest annual inheritance payments. Counties were ranked by total payout among the covered population before the estate tax was factored in.
After Providence County, Kent County was next on the list with $441.6 million in inheritance sums, followed by Washington County with $296.3 million and Newport County, $185.2 million.
Bristol County ranked the lowest at $122.1 million.
Nationwide, Los Angeles County in California ranked the highest with $9 billion in inheritance payments.
Providence County ranked 65th nationally; Kent County, 205th; Washington, 300th; Newport, 444th; and Bristol, 637th.
Providence County also was the highest in Rhode Island for life insurance payments at $1.15 billion, followed by Kent County at $368.9 million; Washington, $226.7 million; Newport, $155.3 million; and Bristol, $98.1 million.
A total of $41.7 million is paid in estate taxes yearly across the state.

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