ESTATE PLANNING LAW GLOSSARY
Glossary of Estate Planning Law Terms
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Click on the first letter of the word
from the list above to go to the appropriate section of
the glossary.
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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. |
