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Federal Estate Tax
A tax levied by the federal government on the transfer of the taxable estate of a deceased person, whether transferred via will, according to state laws, or through an estate plan.
State Inheritance Tax
A tax imposed by some states on individuals who inherit property or money from someone who has died.
Estate Administration
The process of managing and distributing a deceased person's assets according to their will or the laws of intestacy.
Totten Trust
is a type of revocable trust created by depositing funds into a bank account with a designated beneficiary upon the account holder's death.
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