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ESTATE PLANNING LAW GLOSSARY |
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Glossary of Estate Planning Law Terms
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Irrevocable Trust
A trust that is not amendable or revocable by the grantor. Normally created during a grantor’s
lifetime.
Inheritance tax
A tax levied by the county of residence of a person who inherits something from a will. The rate of taxation applied will vary on the size of the inheritance and the relationship between the person who inherits and the deceased.
Intangible property
Property that represents only real value (i.e. bank accounts or promissory notes).
Irrevocable trust
A trust that cannot be changed after it has been established.
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Consultwebs.com, Inc., All rights reserved. Estate Planning, Probate, Trusts.
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