Estate Calculator
Estimate net estate value and what passes to heirs after liabilities and costs
Gross Estate Value (₹)
₹
Total: property + investments + savings + life insurance + jewellery
Outstanding Liabilities (₹)
₹
Home loans, personal loans, credit card dues
Legal & Admin Costs (%)
%
Probate fees, lawyer fees, registration costs (typically 1–3%)
Personal/Charitable Bequests (₹)
₹
Amount willed to charity or specific individuals separately
Estate Summary
Gross Estate
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Net Estate (after liabilities)
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Legal & Admin Costs
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Taxable / Distributable Estate
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Value Passing to Heirs
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Estate Planning in India
India abolished the Estate Duty Act in 1985, so there is no estate or inheritance tax. However, heirs may have income tax liability on income generated from inherited assets, and capital gains tax applies on sale of inherited property. Proper estate planning through a valid Will, nomination, and trusts can minimise costs and disputes.
Key steps: write a registered Will, update nominations in bank/demat/insurance accounts, consider a family trust for large estates, and discuss with a CA or legal advisor about Gift Deed transfers during your lifetime to reduce estate complexity.
lightbulb Example
₹1 Cr estate, ₹20L liabilities, 2% legal:
1Net estate: ₹80 L
2Legal costs: ₹1.6 L → heirs get ₹78.4 L
✓ No estate tax in India since 1985
quizFrequently Asked Questions
Is there an estate tax or inheritance tax in India?
India abolished the Estate Duty Act in 1985, so there is currently no estate tax or inheritance tax. However, inherited assets are subject to capital gains tax when sold, with the cost basis stepped up to the deceased's original purchase price (or fair market value for assets acquired before April 2001). Legal heirs pay capital gains on the gain from that cost basis to the sale price.
What is the best way to transfer wealth to heirs in India?
Common methods: (1) Will — simple and inexpensive but goes through probate. (2) Gift during lifetime — gifts to specified relatives are tax-free; to others, amounts above ₹50,000 may be taxable. (3) Trust — manages assets across generations. (4) Joint ownership — property passes automatically on death. Consult a legal and tax advisor for estate planning.
What documents are needed to claim an inherited estate?
A legal heir needs: death certificate, succession certificate or probate from a civil court (if no will), legal heir certificate from the municipality or tehsildar's office, and the original will (if applicable). For bank accounts, most banks have simplified nominee and death claim procedures that bypass court for smaller amounts.