Certain assets, such as buildings and equipment, depreciate, or decline in value, over time.
You can amortize, or write off, the cost of such an asset over its estimated useful life, thereby reducing your taxable income without reducing the cash you have on hand.
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- Intestate, Payable-on-death, Probate, Probate estate, Real property, Rights of survivorship, Transferable-on-death
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