The Meaning of Deathly Hallows?

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According to the dictionary:

to hallow means:
> Definition: consecrate, bless, hallow, sanctify
render holy by means of religious rites
> Synonyms: consecrate, bless, sanctify
consecrate, bless, hallow, sanctify

But the question is what does it mean in the last Harry Potter(HP) Book. At this point only J.K. Rowlings and her husband(if he is lucky) probably know.