Inheritance tax, also known as estate tax, is a tax that is levied on the value of an individual's estate (i.e., the property and assets they leave behind) when they die. Inheritance tax is generally paid by the estate of the deceased, and it is typically based on the value of the estate and the relationship of the beneficiaries to the deceased.

Inheritance tax rates and exemptions vary depending on the jurisdiction. In some countries, such as the United States, inheritance tax is levied by the federal government and by some state governments. In other countries, such as the United Kingdom, inheritance tax is levied by the national government.

Inheritance tax may be applicable to a wide range of assets, including real estate, personal property, investments, and business interests. Some jurisdictions may have exemptions or thresholds that exempt certain assets or estates from inheritance tax, or that reduce the tax rate for certain beneficiaries.

If you are concerned about inheritance tax and would like to understand your obligations and options, it is a good idea to seek advice from a tax professional or from the tax authority in your jurisdiction.