What is an “income in respect of a decedent”?
Income in respect of a decedent is a term used in Massachusetts inheritance law. It is used to describe any income related to the decedent (the person who passed away) that has not yet been paid or collected. This usually includes unpaid wages, retirement benefits, or other types of income that the decedent was entitled to prior to their death. This income is considered part of the decedent’s estate and is subject to inheritance laws in Massachusetts. Income in respect of a decedent can be distributed either to the decedent’s estate or to the beneficiaries of the estate, depending on the specific laws of Massachusetts. Generally, income in respect of a decedent is paid to the decedent’s estate in order to repay creditors, fund taxes, and pay the costs of estate administration. If there is any remaining money after these costs have been paid, it is then distributed to the beneficiaries of the decedent’s estate. Income in respect of a decedent is an important concept to understand in Massachusetts inheritance law. It can affect how much money an estate receives and who it ultimately gets paid to. It is therefore important to consult a lawyer to ensure that all inheritance laws are followed properly.
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