Definition of "Estate Tax"
Tax imposed by a state or the federal government on assets left to heirs in a will. There currently (as of February 1995) is not an estate tax on property transfers between spouses and assets up to $600,000 are excluded.
Tax imposed by a state or the federal government on assets left to heirs in a will. There currently (as of February 1995) is not an estate tax on property transfers between spouses and assets up to $600,000 are excluded.