Inheritance Tax and Wills and Probate

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Inheritance tax, wills, and probate are all key components of estate planning and administration, dealing with the distribution of an individual's assets after death, the taxation of those assets, and the legal process to validate a will. 1. Inheritance Tax Inheritance tax (IHT) is a tax levied on the value of a deceased person’s estate, which includes property, money, and other assets. The goal of inheritance tax is to collect tax revenue from wealth transfers made after someone dies. ...

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Inheritance Tax and Wills and Probate • Inheritance Tax and Wills and Probate