inheritances tax

Inheritance tax is a government tax on the value of property or money someone receives when a person passes away. The tax usually depends on the relationship between the deceased and the heir, with closer relatives often paying less or no tax. There are usually thresholds—amounts below which no tax is due—and rates that increase with larger inheritances. This tax aims to generate revenue and account for the transfer of wealth between generations. Laws and rates vary by country and region, so it's important to check local regulations to understand specific obligations.