The death estate
You'll learn how to calculate the death estate—the final piece of inheritance tax planning. This video walks you through what assets and liabilities are included, how exemptions apply, and how to use the nil rate band and residence nil rate band on death.
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In this lesson
- 0:00 The death estate explained
- 0:30 What assets and liabilities go in
- 1:01 Exemptions and deductions available
- 2:10 Understanding the nil rate band
- 3:26 The residence nil rate band
- 4:23 Transferring nil rate bands between spouses
About this lesson
You'll see why the order matters (lifetime gifts first, then death estate), and when transferred allowances from a deceased spouse become available. Essential for TX (Taxation) and ATX (Advanced Taxation) students preparing for exam questions on estate planning.
Duration: 5m
Transcript
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