Wealth Transfer Taxation

Wealth transfer taxation refers to taxes imposed on the transfer of assets from one person to another, typically upon death or as gifts during life. These taxes aim to generate public revenue and sometimes to promote fairness by preventing the concentration of wealth. The most common forms are estate taxes (on the estate’s total value at death) and gift taxes (on transfers made during life). Tax rates and exemptions vary by jurisdiction. Proper planning can help minimize these taxes, ensuring more wealth passes to heirs or recipients as intended.