Ownership, marriage regime, beneficiary arrangements, debt and business structures can materially change the picture. General thresholds and rates should not be used as a substitute for an estate calculation.
Estate duty is a tax that may apply to the dutiable value of a deceased estate after permitted deductions and abatements. It is one part of estate planning, not the whole exercise.
The estate also needs liquidity: cash to meet tax, debt, administration costs and immediate family needs while assets are being dealt with. A valuable estate can still be short of accessible cash if most wealth sits in property or a business. Conversely, not every asset or policy is treated identically in the estate calculation.
Try this now
Create a rough estate list showing assets, debts, ownership and whether each asset is easily converted to cash. Add known policies and nominated beneficiaries, but mark their estate treatment as “to verify”.
Ask your attorney, advisor or tax professional
- What creates the likely estate duty and liquidity need?
- Which assets can meet costs without a forced sale?
- Which assumptions depend on current valuations or legal interpretation?
Estate duty rules and estate outcomes are fact-specific. Obtain legal and tax advice for ownership, beneficiary and liquidity planning.
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