estate tax
Death transfer duty
An estate tax is a government levy on the transfer of property from a deceased person to their heirs.
It applies to the total value of an estate above a threshold set by law, paid before assets pass to beneficiaries: The estate tax only kicks in above twelve million dollars.
Also called a death tax, especially by opponents seeking its repeal.
Appointed estate manager
- probateWill validation proceedings
- decedentLegal term for deceased
- beneficiaryDesignated asset receiver
- heirOne who receives legacy
bequest · trusts · valuation · exemption · threshold · deduction · wealth transfer · intestate
Confidence in another
- irrevocable trustUnalterable legal asset structure
- life insuranceContract paying upon death
- annuityPeriodic fixed payment
- asset protectionSecuring owned resources legally
Rates increase with income
- wealth redistributionShifting assets across society
- revenueBusiness income total
- repealAnnul a statute
- reformImprove by correcting faults
loophole · fairness · double taxation · political debate · family farms · small business · wealth concentration · inequality
executor
Appointed estate manager
- probateWill validation proceedings
- decedentLegal term for deceased
- beneficiaryDesignated asset receiver
heir · bequest · trusts · valuation · exemption · threshold · deduction · wealth transfer · intestate · fiduciary
trust
Confidence in another
- irrevocable trustUnalterable legal asset structure
- life insuranceContract paying upon death
- annuityPeriodic fixed payment
asset protection · succession planning · liquidity · installment payment
progressive taxation
Rates increase with income
- wealth redistributionShifting assets across society
- revenueBusiness income total
- repealAnnul a statute
reform · loophole · fairness · double taxation · political debate · family farms · small business · wealth concentration · inequality · charitable deduction
- economic policymonetary policy, fiscal discipline, fiscal stimulus, fiscal restraint, tariff
- Tax Rulesdeductions, credits, exemptions, filing status, withholding
- estate taxesdeath duties, charitable deduction, portability, probate, decedent
- transfer taxestransfer fee, stamp duty, death duties
- taxeswithholding, VAT, GST, customs duty, FICA
- chargesfees, surcharges, levies, service charges, service fees
estate taxincome tax
Government charge on earnings
payroll tax · sales tax · consumption tax · value-added tax · capital gains tax
tax, estate, taxing, estates, taxes, real estate, taxable, estate's, property tax