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Assets All assets held in your sole name at the time you die will form part of your estate and may be liable for inheritance tax (IHT). Assets you own jointly with another person will pass by survivorship to the joint owner and may, or may not, be liable to IHT dependent on your relationship with the joint owner. Business Property Relief This relief may be available if your estate includes an interest in certain types of business, business assets or private company shares. However, to qualify you need to have held the asset for at least two full years and, in some cases, hold a contro...