Home
Process
Glossary
Channel
Blog
Advisors
Contact
Glossary Terms
A
B
C
D
E
F
G
H
I
J
L
M
O
P
Q
R
S
T
U
V
W

Estate Planning Definitions & Glossary

Below is a helpful list of terms and words found on this site or related to estate and trust planning.
E
Estate Tax
A transfer tax that the federal (or a state) government assesses on your right to transfer assets upon your death. In 2009 the federal estate tax exemption is $3.5 million. Taxable gifts (those made during your lifetime in excess of the annual exclusion amount) reduce your estate tax exemption at the time of your death.
Estate Tax Exemption
The amount of exemption your estate is entitled to before estate tax is imposed. 
Executor or Executrix
 An individual or trust company nominated in a will and appointed by a court to settle the estate of the testator. Sometimes called personal representative in some states.
Exempt Trust
Usually connotes that the trust assets will be exempt from either federal estate tax or federal generation skipping tax, or both.
The Family Estate & Legacy Solution, 9100 College Pointe Court, Fort Myers, FL 33919 • tel: 239.334.1141 • fax: 239.334.3965 • email: info@familylegacysolution.com
© Copyright 2008, All rights reserved. Family Legacy Media, LLC.

Disclaimer: The information contained on this site shall not be construed as legal advice, as the information is general in nature and is not specific to any individual client or jurisdiction. No attorney/client relationship shall be established in the use of this site.While every effort is made to keep the information up to date, there is no warranty, expressed or implied, that the information contained herein is current. One should always consult with his or her own qualified estate planning attorney before acting on any legal or tax matter.