Unified estate and gift tax

{
  "id": "MLC-T-LAW-005054",
  "term": "Unified estate and gift tax",
  "field": "Law",
  "definition": "A system under federal law where a single progressive tax rate schedule applies to both lifetime gifts and transfers made at death. This structure prevents individuals from avoiding estate taxes by making large gifts during their lifetime. The tax is imposed on the cumulative value of taxable gifts and the taxable estate, with a unified credit offsetting a portion of the tax liability.",
  "url": "https://mlchart.com/terminology/law/unified-estate-and-gift-tax/"
}