Estate Tax (Noun)
Meaning
A tax on the estate of the deceased person.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The wealthy businessman's family had to pay a significant estate tax after his passing, which greatly reduced the inheritance.
- The government imposed a hefty estate tax on the deceased celebrity's vast fortune, sparking controversy among her fans.
- To minimize the estate tax, the couple set up a trust fund for their children, which would distribute the assets over time.
- The estate tax laws in the country were complex and often led to lengthy court battles among family members.
- After the politician's death, her estate tax was used to fund various charitable causes, as per her will.