DEFINITION of 'Decedent'

A person who is no longer living. Just as a taxpayer's possessions become his or her estate upon death, so does the person become a Decedent upon death. Decedents still have the power to effect financial transactions and so forth through proper estate planning.


This term is used chiefly in the tax, estate planning and law arenas. Attorneys carry out the wishes of Decedents after their death with the proper execution of their wills and other estate planning documents. A final tax return must also be filed for Decendents in the year of their death.

  1. Final Return For Decedent

    The final tax return filed for an individual in the year of that ...
  2. Death Benefit

    The amount on a life insurance policy or pension that is payable ...
  3. Estate Tax

    A tax levied on an heir's inherited portion of an estate if the ...
  4. Income In Respect Of A Decedent ...

    Money that was due to a decedent and will pass through to the ...
  5. Inheritance Tax

    In some states in the U.S. (and in the United Kingdom), a tax ...
  6. Insurance Trust

    An irrevocable trust set up with a life insurance policy as the ...
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