Tax-free decedent's estate

Estate taxation

Estate taxation is a key part of tax advice in connection with inheritance and succession planning. At SkatteInform, we help heirs and estates ensure optimal tax handling of the deceased’s assets. SkatteInform can assist with preparing an estate inventory and advise on when an estate is tax-exempt or taxable. SkatteInform calculates the tax in the estate and the inheritance tax in connection with closing the estate.

Private administration of an estate

In most estates, the inheritance is distributed among the heirs. Depending on any will, the heirs can make decisions and distribute the inheritance themselves—this is known as private administration. To carry out private administration, the probate court sets certain requirements that the heirs must accept, including how household contents, property or any businesses are to be divided or sold.

It can be beneficial to appoint an adviser to support the process. SkatteInform can handle communication with the probate court, assist with valuations of the estate’s assets and advise on the tax aspects in connection with the estate.

Estates, gifts and wills

Gifts are often used as a way to reduce wealth during one’s lifetime and thereby potentially reduce inheritance tax on death. If the inheritance exceeds the tax-free allowance—which is adjusted annually (see rates here)—inheritance tax of 15% is charged. However, there are special points to be aware of: for example, both parents can give gifts tax-free up to the maximum annual amount. In addition, gifts between spouses are tax-free, which makes it possible for one spouse to transfer amounts to the other spouse, which can then be used to give gifts to other family members. SkatteInform can advise you on your options, including in connection with succession planning for businesses.

Disclaimer

As the above is for guidance only, we do not accept liability for dispositions that may be made on the basis of the above without prior individual advice. We do not accept liability for errors and omissions.