In-kind definition

What is In-Kind?

In-kind refers to a payment made with goods or services, rather than currency. The concept most commonly refers to contributions to charities that are made with goods or services. For example, a grocery store could provide in-kind food contributions to a soup kitchen. Similarly, a construction company could provide in-kind labor to construct a home for a homeless family.

When the concept is used in a will or trust, it authorizes the executor to make property payments to beneficiaries “in kind,” so that property with the correct value is awarded to each beneficiary - no matter what form it may take.

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