Inheritance taxes are fees imposed by the government on the value of assets inherited from a deceased person. When someone passes away, their estate, which includes property, money, and other valuables, may be subject to taxation before the assets are distributed to heirs. The tax rate can vary based on the total value of the estate and the relationship between the deceased and the inheritor. In many countries, inheritance taxes are designed to ensure that wealth is fairly distributed and to generate revenue for public services. Some regions may have exemptions or lower rates for close relatives, such as spouses or children, while others may not impose any tax at all. Understanding the rules surrounding inheritance taxes can help heirs plan for potential financial obligations.