The term 'Death Tax' is commonly used to refer to state inheritance taxes, though it is frequently conflated with estate taxes. It represents the taxation imposed on the transfer of wealth upon an individual's death.
Inheritance Tax (IHT) is a tax on the estate, such as money, property, and possessions, of someone who has died. IHT is often seen as significant, as it can substantially reduce the value that beneficiaries receive from an estate.
