taxable estate


The amount of remaining assets in a decedent's estate that is subject to taxation. This amount is determined by taking the total value of the estate and subtracting any obligations that may exist such as bills or other obligations. The taxable amount is then assessed a tax and is paid out before the remainder of the estate is paid out to heirs or beneficiaries.
Browse Definitions by Letter: # 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
taxable bond taxable event