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Immediate Family

Categories: Trusts and Estates

Who lives in your house? Who is directly linked to you? And why does this even matter?

Well, immediate family status sometimes carries special tax deduction options. It's also a biggie for that scene at the end of the movie when the main characater is on her death bed and only immediate family are allowed into the hospital to say their goodbyes.

Find other enlightening terms in Shmoop Finance Genius Bar(f)