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Today's Terms
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
Joint Tenancy
Definition:
Property owned by two or more people in a manner such that upon death of one of the joint owners, all of his/her interest in the property is transferred immediately, by operation of law, to the other surviving owners.
Devise
Definition:
A gift made by a will or a trust. A devise is made to a beneficiary under the terms of the will or trust.
More Estate Planning Terms >
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