estate tax

estate tax
estate tax n: an excise in the form of a percentage of the taxable estate that is imposed on a property owner's right to transfer the property to others after his or her death – called also succession tax; see also unified transfer tax compare gift tax, inheritance tax

Merriam-Webster’s Dictionary of Law. . 1996.

estate tax
n.
A tax on property transferred after the owner’s death that is levied on the estate.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


estate tax
A tax imposed by the federal government, and by some states, on property transferred at someone's death. All property, however owned and whether or not it goes through probate court before being given to inheritors, is subject to estate tax. In practice, however, very few estates—fewer than 1%—actually owe federal estate tax. That's because the first $3.5 million of property is exempt from the tax, and you can leave an unlimited amount tax-free to a surviving spouse or charity. The federal estate tax is scheduled to be repealed entirely in 2010 and then come back with a $1 million exemption in 2011, but it's more likely that Congress will make the $3.5 million exemption permanent before 2010. Compare: inheritance tax
Category: Wills, Trusts & Estates → Estate Tax

Nolo’s Plain-English Law Dictionary. . 2009.


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.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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.

Law dictionary. . 2013.

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Look at other dictionaries:

  • estate tax — estate′ tax n. law a tax imposed on the net worth of a decedent s property prior to distribution to the heirs Also called death tax 1) • Etymology: 1905–10 …   From formal English to slang

  • estate tax — a tax imposed on a decedent s property, assessed on the gross estate prior to distribution to the heirs. Also called death tax. [1905 10] * * * Levy on the value of property changing hands at the death of the owner, fixed mainly by reference to… …   Universalium

  • estate tax — A tax imposed on the right to transfer property by death. Thus, an estate tax is levied on the decedent s estate and not on the heir receiving the property. A tax levied on right to transmit property, while inheritance tax is levied on right to… …   Black's law dictionary

  • estate tax — A tax imposed on the right to transfer property by death. Thus, an estate tax is levied on the decedent s estate and not on the heir receiving the property. A tax levied on right to transmit property, while inheritance tax is levied on right to… …   Black's law dictionary

  • estate tax — A federal or state tax imposed on an individual s assets inherited by heirs. Bloomberg Financial Dictionary * * * estate tax estate tax ➔ tax1 * * * estate tax UK US noun [C] US (UK inheritance tax, UK death duty, UK estate duty) ► T …   Financial and business terms

  • Estate Tax — A tax levied on an heir s inherited portion of an estate if the value of the estate exceeds an exclusion limit set by law. The estate tax is mostly imposed on assets left to heirs, but it does not apply to the transfer of assets to a surviving… …   Investment dictionary

  • estate tax — noun a tax on the estate of the deceased person • Syn: ↑inheritance tax, ↑death tax, ↑death duty • Hypernyms: ↑transfer tax * * * noun, pl ⋯ taxes [count, noncount] : a tax that you pay on the money and other property that comes to you because… …   Useful english dictionary

  • estate tax — A tax upon the transmission of property by a deceased person, that is, upon the privilege of transmitting property. 28 Am J Rev ed Inher T § 5. A tax imposed upon the net or taxable estate of a decedent without reference to the relationship of… …   Ballentine's law dictionary

  • estate tax threshold — The dollar amount of an estate at which estate tax might be due. For example, if you die in a year where the federal estate tax exception is $3.5 million, then your estate may owe estate taxes if your estate is larger $3.5 million at that time.… …   Law dictionary

  • estate tax — tax imposed on the assets of a dead person according to the value of the estate …   English contemporary dictionary

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