Inheritance Tax
Usually refers to the State tax on a decedent’s assets that pass to heirs and beneficiaries.
Gift Tax
Federal or State tax on large gifts. The Federal Gift Tax Return is IRS Form 709.
Fiduciary Income Tax
Federal tax on income such as interest, dividends, and rents earned by a trust. The Fiduciary Income Tax return is IRS Form 1041
Estate Income Tax
Federal tax on income such as interest, dividends, and rents earned while the estate is open. The Estate Income Tax return is IRS Form 1041
Estate Tax
Federal tax on a decedent’s assets that pass to heirs and beneficiaries. The Estate Tax return is IRS Form 706.
Undue Influence
Pressure exerted over another person that overpowered the will of that person and caused that person to make a gift, will, or contract
Plaintiff
The party who files the complaint and demands damages, performance or determination of rights
Defendant
The party being sued
Constructive Trust
A description the court uses for property that is improperly transferred to someone as a result of a defective trust or gift while the property is in that person’s possession. The person in wrongful possession is said to hold the property in constructive trust for the rightful owner.
Complaint
The first document filed with the court by a person or entity claiming legal rights against another.