🏛 Inheritance Tax Calculator
Estimate inheritance tax liability based on estate value, exemptions, and applicable tax rate. Provides a simple summary and breakdown with CSV export.
Inputs
Understanding inheritance tax and estate planning
Inheritance tax (IHT), sometimes called “estate tax” or “death duty,” is levied on the estate of a deceased person before it is distributed to heirs...
Key principles
Inheritance tax applies to the estate value above a set exemption or threshold...
Exemptions and reliefs
Many jurisdictions allow spousal exemption, charitable deduction, or agricultural/business relief...
Strategies to reduce inheritance tax
- Gifting during lifetime within annual allowances
- Charitable giving
- Using trusts or insurance
Limitations
This calculator provides a simplified estimate. Real tax liability depends on local laws, multiple rate bands, residency, and exemptions...
Frequently asked questions (FAQs)
1. What is inheritance tax?
A tax on the estate of someone who has died, charged before distribution to heirs.
2. What assets are included?
Typically real estate, bank accounts, investments, personal property, minus debts.
3. Is spouse inheritance taxable?
Often, assets passed to a spouse/civil partner are exempt.
4. How does the exemption work?
Tax is applied only to the estate value above the exemption threshold.
5. Are life insurance proceeds taxable?
In many jurisdictions they are included unless written in an irrevocable trust.
6. Can gifts reduce IHT?
Yes, lifetime gifts within allowances reduce taxable estate.
7. What if estate is below exemption?
Then no inheritance tax is due.
8. Do rates vary by region?
Yes — each country (and some states) set thresholds and rates.
9. Who pays inheritance tax?
Usually the estate executor pays from estate assets before distribution.
10. Should I consult a professional?
Yes — estate law is complex and advice helps optimize tax efficiency.