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inheritance tax,estate tax,estate duty,retirement planning,estate planning,will planningWhat's the Difference between Estate Tax and Inheritance Tax?


inheritance tax,estate tax,estate duty,retirement planning,estate planning,will planning It's always useful to know the difference between the 2 death taxes - inheritance tax and estate tax (estate duty) before we start our retirement planning, estate planning or will planning.

Estate Duty or Estate Tax

Estate Duty or Estate Tax is a government tax which arises on the death of an individual or a death tax. An estate tax is a tax imposed on the deceasedís estate in its entirety. The executor is responsible for paying this estate tax to the government. It is different from inheritance tax.


Deceased's Estate ==> Pay Estate Duty to Government + other expenses ==> Distribute to Beneficiaries


Inheritance Tax

Inheritance Tax is a government tax which arises on the death of an individual or a death tax. Unlike estate duty, an inheritance tax is a tax imposed on the beneficiaries who receive benefits or property from the deceased. Each beneficiary is responsible for paying their own inheritance tax.

Deceased's Estate ==> Pay other expenses ==> Distribute to Beneficiaries ==> Beneficiaries to pay individual Inheritance Tax



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inheritance tax,estate tax,estate duty,retirement planning,estate planning,will planning