Inheritance Tax is generally known as estate levy, but actually the both terms are different. These two definitions have many similarities as well as difference. Base of the inheritance tax is exempted in many cases. Both of them have different rate of tax. We can define Succession Planning in many ways. In a professional approach, it can be defined as a process of thinking in advance about to hand over authority, control, power and responsibilities in a proper manner without disturbing the goals and culture of the organization. During these days Asset Protection is very important. Due to risk of litigation, business dealing risk also increases.