Estate Tax
n. generally a federal tax on the transfer of a dead person's assets to his heirs and beneficiaries.
Estate tax: A tax placed on the net value of a decedent's estate at the time of death.
Executor or Executrix: A person named in the decedent's will to serve as personal representative in probating the decedent's estate.
Estate tax- Generally, a tax on the privilege of transferring property to others after a person's death. In addition to federal estate taxes, many states have their own estate taxes.
estate taxes The tax imposed on the property of a deceased person who transfers ownership by will or intestate succession.
estate taxes - Taxes imposed on property by the government as it is passed from the dead to the living.
Estoppel - An impediment that prevents a person from asserting or doing something contrary to his own previous assertion or act.
Estate Tax
Nolo: Tax-Saving AB Trusts
Definition from Nolo's Plain-English Law Dictionary ...
Reduce Estate Tax by Making Gifts
Estate Tax: Will Your Estate Have to Pay?
Maine Estate Tax
The Charitable Trust: Do Good and Get Tax Breaks
A Pooled Charitable Trust: Do Good and Get Tax Breaks on a Budget ...
NYC real estate tax break set to expire - againChicago Tribune... 365000 New York City co-op and condo owners could see their property tax bills jump," the Independent Budget Office said in a report.
Uniform Estate Tax Apportionment Act (1958) (1982)
Uniform Exemptions Act (1976) (1979)
Uniform Extradition and Rendition Act (1980)
Uniform Federal Lien Registration Act (1978) (1982)
Uniform Fiduciaries Act (1922) ...
A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust.
an estate tax deduction allowed a surviving spouse of half of the value of the estate of the deceased spouse.
: a rule in estate tax law: the value of a property interest that passes to a surviving spouse may not be deducted if it passes from the surviving spouse to another person for less than adequate consideration upon the happening of some event ( ...
QDOT TRUST
A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spouse. QDOT stands for qualified domestic trust.
Originally intended to avoid or defer federal gift or estate taxes if paid through a "generation skipping trust," it is now subject to a generation skipping tax, and if made directly without a trust, the gift is as taxable as any large gift.
Death Taxes: Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who inherit property and some have estate taxes.
Tax Court decides controversies between taxpayers and the Internal Revenue Service involving underpayment of federal income, gift, and estate taxes.
Irrevocable trusts designed to save on estate tax.
There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years.
BYPASS TRUST: Also called a marital life estate or an A-B trust. A trust designed to help couples with combined assets over $600,000 save money on estate taxes.
Marital deduction: The amount of money a wife or husband can inherit without paying estate taxes. For federal tax purposes, such deduction is equal to no more than one-half of the gross estate.
Examples of direct taxes include land taxes, succession or estate taxes.
REFERENCES: ...
Among other things, the executor takes care of the estate, pays the debts and estate taxes of the person that died, and distributes that person's money and other property by following the instructions in the will.
 See also: Estate, Law, State, Court, Trust
  
|
RSS
