|
Today's Terms
In-Terrorum Clause
Definition:
A provision of a will or trust that disinherits a person in the event that he/she challenges the terms of the will or trust. Sometime called a No-Contest Clause.
Inheritance Tax
Definition:
A tax imposed by the state at the time of a person's death that is based upon the total value of the decedent's estate
Personal Property
Definition:
Movable property, including furniture, antiques, automobiles, business equipment, cash and stocks. Compare with Real Property.
More Estate Planning Terms >
|