Estate Law Questions? Ask an Estate Lawyer.
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No, there is an federal estate tax exemption of $5.45 million dollars that allows a deceased to pass assets to their heirs tax free. This is per person so parents combined would have had a $10.9 million exemption.
So the inheritance is tax free regarding federal law. If you can tell me what state you are in, I can see if there are any state inheritance or estate taxes.
Ok, TN has no inheritance taxes and and its state estate tax expired in 2016, but was $5 million prior to that.
So there wouldn't be any taxes due to the state either.