What "estate tax" means in finance

Estate tax, also known as inheritance tax or death tax, is a tax levied on the transfer of a person's property or estate after their death. It is based on the total value of the estate, which includes all assets, such as real estate, investments, and personal property. The estate tax is paid by the estate, and the tax rate varies depending on the value of the estate and the jurisdiction in which it is located. Some countries have an exemption threshold below which no estate tax is due. Estate tax is a contentious issue, with some arguing that it unfairly taxes the hard-earned assets of the deceased, while others argue that it is necessary to fund government programs and services.