Dictionary of Exit Planning Terms

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 4

Search In Dictionary

Estate Tax

A tax imposed on the transfer of the "taxable estate" of a deceased person. The estate tax is one part of the federal Unified Gift and Estate Tax system in the United States. The other part of the system, the gift tax, imposes a tax on transfers of property during a person's life; the gift tax prevents avoidance of the estate tax should a person want to give away his/her estate.

Many states also imposed an estate tax.