Glossary
| Term | Definition |
|---|---|
| Gift |
The voluntary transfer of assets under which the giver receives no compensation and retains no interest in his or her gift.
|
| Gift Tax |
A tax the federal government and some states levy on the transfer of property as a gift. Generally gift taxes increase with the amount of the gift and are paid by the donor.
|
| Gross Monthly Income |
Total monthly income generated from all sources before taxes and other expenses are considered.
|
| Group Life Insurance |
Life insurance that insures all the members of a specific group, most often the employees of a specific company or the members of a professional association.
|