Who pays inheritance tax?

Who pays inheritance tax?

Inheritance tax is typically paid by the estate of the deceased before the assets are distributed to the heirs.

Are there any exemptions or thresholds for inheritance tax?

Yes, many countries have a tax-free threshold, and certain assets may be exempt from inheritance tax.

How is the inheritance tax calculated?

Inheritance tax is usually calculated based on the value of the estate after deducting any debts and exemptions.

What happens if the estate can't pay the inheritance tax?

If the estate cannot pay the inheritance tax, the heirs may be responsible for covering the tax from their own funds.

Can I contest the inheritance tax assessment?

Yes, you can contest the assessment, but you'll need to provide evidence to support your claim.