|
Today's Terms
Gain
Definition:
The difference between the Tax Basis (the amount originally paid for property with certain adjustments) and the amount received for the property when it was sold.
Living Trust
Definition:
Sometimes called an Inter-Vivos Trust--A written legal document established during a person's lifetime into which he/she places property.
Personal Property
Definition:
Movable property, including furniture, antiques, automobiles, business equipment, cash and stocks. Compare with Real Property.
More Estate Planning Terms >
|
