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Trust Glossary

Pick-up Tax - Estate tax imposed by some states, equal to the maximum allowable federal estate tax credit for estate taxes paid to a state. Pick-up tax is designed by a state's legislature to divert to decedent's resident state, at no effective cost to decedent, tax that would otherwise have been paid to the federal government.

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The content in this glossary is general in nature and is intended for informational purposes only. It is not intended to provide specific advice or recommendations for any individual or organization, because the facts and circumstances surrounding each situation differ. Please consult your attorney, tax advisor or other professional advisor for advice on your particular situation.

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