Dictionary of Law
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

estate tax :: legal definition


Estate tax - n. generally a federal tax on the transfer of a dead person's assets to his heirs and beneficiaries. Although a transfer tax, it is based on the amount in the decedent's estate (including distribution from a trust at the death) and can include insurance proceeds. Currently such federal taxation applies to the amount of an estate above $600,000, or as much as double that amount if the estate is distributed to a spouse. Some states have an estate tax, more commonly called an inheritance tax.


Related Law Terms

Attorney General :: n. in each state and the federal government the hi ... izenry. See also: Solicitor General
constitutional rights :: n. rights given or reserved to the people by the U ... e also: Bill of Rights constitution
contemplation of death :: n. the anticipation of death in a relatively short ... e also: unified estate and gift tax
copyright :: 1) n. the exclusive right of the author or creator ... plagiarism public domain trademark
executor :: n. the person appointed to administer the estate o ... sed decedent executrix probate will
gift in contemplation of death :: n. (called a gift causa mortis by lawyers showing ... ift tax unified estate and gift tax
in kind :: adj. referring to payment, distribution or substit ... . See also: distribution trust will
income :: n. money, goods or other economic benefit received ... ernment and most state governments.
income tax :: n. a tax on an individual's net income, after dedu ... al government. See also: income tax
insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts
joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title
jurisdiction :: n. the authority given by law to a court to try ca ... Superior Court Supreme Court venue
lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer
letters of administration :: n. a document issued by the court clerk which stat ... estate. See also: executor probate
letters testamentary :: n. a document issued by the court clerk which stat ... te. See also: administrator probate
lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage
marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust
net estate :: n. the remaining estate of a person who has died, ... alue. See also: estate tax gift tax
non-profit corporation :: n. an organization incorporated under state laws a ... harity corporation cy pres doctrine
pro rata :: (proh rat-ah or proh ray-tah) adj. from Latin for ... e year in which he/she holds title.
probate :: 1) n. the process of proving a will is valid and t ... e also: administrator executor will
regulations :: n. rules and administrative codes issued by govern ... es usually have similar procedures.
reports :: n. the published decisions of appeals courts in al ... ilable in almost all law libraries.
residue :: n. in a will, the assets of the estate of a person ... distribution residuary bequest will
tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax
Tax Court :: n. a federal agency with courts in major cities wh ... Appeals. See also: court income tax
unified estate and gift tax :: n. in federal estate taxes, the value of the estat ... turn. See also: estate tax gift tax
will :: n. a written document which leaves the estate of t ... will and testament probate testator

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - E

earnest payment :: n. a deposit paid to demonstrate commitment and to ... (liquidated) or committed damages.
easement :: n. the right to use the real property of another f ... rstandings at the time of creation.
egress :: n. way of departure. A word usually used in conjun ... unction with "access" or "ingress."
EIR :: n. popular acronym for environmental impact report ... e also: environmental impact report
ejectment :: n. a lawsuit brought to remove a party who is occu ... o the property through her parents.
ejusdem generis :: (eh-youse-dem generous) v adj. Latin for "of the s ... t was of land-based transportation.
elder law :: n. a specialty in legal practice, covering estate ... t field. (definition revised: 9/02)
election of remedies :: n. an outmoded requirement that if a plaintiff (pa ... dence has not been fully presented.
election under the will :: n. in those states which have statutes which give ... arries) left to her under his will.
eleemosynary :: (eh-luh-moss-uh-nary) adj. charitable, as applied ... pplied to a purpose or institution.
element :: n. 1) an essential requirement to a cause of actio ... of action crime general plan zoning
emancipation :: n. freeing a minor child from the control of paren ... vorced parent to pay child support.
embezzlement :: n. the crime of stealing the funds or property of ... in trust. See also: embezzler theft
embezzler :: n. a person who commits the crime of embezzlement ... r property of an employer or trust.
emblements :: n. crops to which a tenant who cultivated the land ... ome the property of his/her estate.
emergency :: n. a sudden, unforeseen happening which requires a ... r to protect lives and/or property.
eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation
emolument :: n. salary, wages and benefits paid for employment ... d for employment or an office held.
emotional distress :: n. an increasingly popular basis for a claim of da ... ar value upon it. See also: damages
employee :: n. a person who is hired for a wage, salary, fee o ... ondeat superior scope of employment