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LSDefine

Simple English definitions for legal terms

IRD

Read a random definition: Motion to Dismiss

A quick definition of IRD:

IRD stands for income in respect of a decedent, which is money that someone earned but didn't receive before they died. This income is included in the person's estate for tax purposes and is either taxed to the estate or to the eventual recipient. It's important to note that this type of income is different from earned income, which is money someone earns from working, and unearned income, which is money someone earns from investments.

A more thorough explanation:

Definition: Income in respect of a decedent. Income earned by a person but not collected before death. This income is included in the decedent's gross estate for estate-tax purposes. For income-tax purposes, it is taxed to the estate or, if the estate does not collect the income, it is taxed to the eventual recipient.

Example: If a person earned money from work before they died but did not receive it, that money is considered IRD. For example, if a person earned a paycheck in December but died before receiving it, that paycheck would be considered IRD. The paycheck would be included in the person's estate for estate-tax purposes and would be taxed to the estate or the eventual recipient for income-tax purposes.

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i have gone through the ringer w gulc but theyve really been messing up my app lmao
10:41
@starfishies: the you to the schools in ug are getting the same quick turnaround for law schools lol like they say you a gunner to even go to law school so now you may be *gasps* AvErAgE
Fuckkkk I just went UR4 at UVA
soyalmondoatmilk
10:41
lots of my friends went to UT for undergrad and love it
BulbasaurNoLikeCardio
10:41
Stupid expensive and becoming a mini California with the street pooping and crackheads
starfishies
10:42
no i just ed'd lol but i am gasp average haha
soyalmondoatmilk
10:42
that's fair bulb
soyalmondoatmilk
10:43
i haven't actually lived there, just visited a couple of times and enjoyed the city!
10:44
@texaslawhopefully: omg bestie after seeing you in this chat it makes so much sense why hls is your number one a true otp
BulbasaurNoLikeCardio
10:45
I live an hour out from Austin and hate it. Property taxes going up year over year because people moving out here and commuting to Austin because its cheaper which causes the housing market and values to inflate. A small house is half a mill in Austin which is a no go for me and I don't want to commute an hour+ daily. I love visiting Austin for shopping and eating but it isn't for me
@EvolBunny: do elaborate
BulbasaurNoLikeCardio
10:48
I am not saying don't go to UT Austin or live in Austin, I just have high energy dogs who need a yard and a family so it isn't realistic for me. If I was single and my dog didn't get a meth high off of breathing regular air or blinking, I would of applied. Beautiful campus and area.
shaquilleoatmeal
10:48
Damn I’m still ur2 at uva
soap
10:48
Tex, has your cornell poetal
10:48
meth high hahaha thats so funny poor doggo just gets excited
soap
10:48
changed
snow
10:48
those are all valid @bulb
10:49
@BulbasaurNoLikeCardio: getting my dog a yard is a goal wherever I go
snow
10:49
whats up shaq
snow
10:49
im at UR3 for UVA lol
snow
10:49
been like that for a month...
shaquilleoatmeal
10:49
Yup same it’ll be a month in 2 days lol
glovediedthisishismom
10:49
im ur8 am i freaking hosed
shaquilleoatmeal
10:49
Lmao cooked fam
BulbasaurNoLikeCardio
10:49
@BruceSutter: My dogs were a big sway on where I researched and applied
10:50
this is why i didnt get dogs in college i wanted them so bad but i knew it would make finding a law school harder
shaquilleoatmeal
10:51
The lyrics in tv off “crazy, scary, spooky, hilarious” are exactly how I feel about this process lmao
@soap: yeah it changed to like schedule a tour and some other sfuff
BulbasaurNoLikeCardio
10:51
@riordanker: he is a hunting dog that is so athletic he broke he leg from running to fast. I left his tracking collar on him and he did 5 miles in my backyard
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