bequest tax

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• Bequest — A bequest is the act of giving (not the act of receiving) property by will.[1] Strictly, bequest is used of personal property, and devise of real property. In legal terminology, bequeath is a verb form meaning to make a bequest. (From Old English …   Wikipedia

• transfer tax — n: a tax (as a gift tax or estate tax) imposed on the transfer of property Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. transfer tax …   Law dictionary

• Estate tax in the United States — This article is about Estate tax in the United States. For other countries, see Inheritance tax. Part of a series on Taxation Taxation in the United States …   Wikipedia

• Inheritance tax — An inheritance tax or estate tax is a levy paid by a person who inherits money or property or a tax on the estate (total value of the money and property) of a person who has died.[1] In international tax law, there is a distinction between an… …   Wikipedia

• Gift tax in the United States — A gift tax is a tax imposed on the gratuitous transfer of ownership of property.The tax is generally imposed on the donor (the giver) rather than on the recipient. A transfer is completely gratuitous where the donor receives nothing of value in… …   Wikipedia

• Generation-skipping transfer tax — The U.S. Generation skipping transfer tax imposes a tax on both outright gifts and transfers in trust to or for the benefit of persons two or more generations younger than the donor, such as grandchildren. The generation skipping tax will be… …   Wikipedia

• transfer tax — A tax upon the passing of the title to property or a valuable interest therein out of or from the estate of a decedent, by inheritance, devise, or bequest. See estate tax inheritance tax unified transfer tax Tax on the transfer of property,… …   Black's law dictionary

• shifting burden of tax — Employing a condition in a will whereunder certain bequests are to bear the burden of an inheritance or estate tax, thereby relieving from payment of such tax a bequest which otherwise would be chargeable therewith. Anno: 117 ALR 126; 37 ALR2d… …   Ballentine's law dictionary

• legacy — A disposition of personalty by will. A bequest. In a technical sense and strictly construed, legacy is a gift or bequest by will of personal property, whereas a devise is a testamentary disposition of real estate, but such distinction will not be …   Black's law dictionary

• legacy — A disposition of personalty by will. A bequest. In a technical sense and strictly construed, legacy is a gift or bequest by will of personal property, whereas a devise is a testamentary disposition of real estate, but such distinction will not be …   Black's law dictionary

• Bequests For Masses —     Bequests for Masses     † Catholic Encyclopedia ► Bequests for Masses      The efficacy of prayers for the dead , remarks the Court of Appeals of the State of New York in Holland v. Alcock, 108 New York Court of Appeals Reports, page 312, is… …   Catholic encyclopedia