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unified estate and gift tax

unified estate and gift tax definition - legal

n

A tax imposed on property transfer, especially by inheritance, by will, or as a gift. The federal tax laws treat lifetime gifts and death gifts equally. Sometimes referred to as the federal transfer tax or the unified transfer tax.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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