Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
1,884,797,990 visitors served.
forum mailing list For webmasters
?
New: Language forums
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

inheritance tax

   Also found in: Dictionary/thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.17 sec.
inheritance tax
A state tax levied on the recipient of an estate rather than on the estate itself. The tax varies by state and its severity in a given state usually depends on the kinship between the deceased and the heir. Some states levy a tax on the estate instead of a tax on the amount inherited. Also called death tax. Compare estate tax.
How can I minimize inheritance tax?

Estate and gift tax law is in a state of flux. An estate planning attorney will have the most up-to-date information available to assist you in minimizing your tax liability. Avoiding probate should also be a goal. Joint ownership, revocable living trust, irrevocable trusts, and life insurance may be useful tools to avoid or eliminate the estate tax and costs of probate, but only an experienced estate planning attorney can help you decide which of these tools will suit your needs best.

Gloria Cole, Attorney, private practice, Weston, MA
inheritance tax

See estate tax.



How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link
Email
Feedback
Add definition
? Mentioned in ? References in periodicals archive
 
Some people say if you make a will you can make sure that no inheritance tax will be charged on your estate, as if a blanket rule applies In actual fact some estates won''t involve inheritance tax as they are under the allowance
Wills and Pets by Michael Challiner / Finance and Investment community
Just two years ago, his Chancellor Alistair Darling stole a bunch of Tory policies including the plan to increase the threshold in, yes, inheritance tax.
GORDON Brown insists he "will [...] by The Evening Standard (London, England)
Plan ahead for your spouse, kids and next of kin by setting out clearly who and what they get from your estate It also means that by inheritance tax planning you can maximize inheritance tax reliefs and exemptions if your estate might be worth more than the inheritance tax threshold when you die
Inheritance Tax Planning Will Save More than Halve Your Tax! by Sean L Williams / Law community
More results
 
Financial browser? ? Full browser
 
 
Financial Dictionary
?

Disclaimer | Privacy policy | Feedback | Copyright © 2010 Farlex, Inc.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Terms of Use.