Definition - What does In Kind mean?
The term in-kind refers to distribution, payment, or substitution of services or goods in lieu of money. It is commonly used in trusts and wills. This type of distribution actually empowers the trustee or executor to distribute the property among beneficiaries.
Justipedia explains In Kind
Property to be distributed can be in the form of real estate, money, services, or goods. In-kind is an expression of distribution of property among beneficiaries as per the discretion of the executor. The best thing about the process is that it allows distribution without having to sell off the assets to get money.
Step by Step: Here’s What Happens When You're Charged with a Crime