Meaning
To kick the bucket / To die
Example
Meu vizinho abotoou o paletó semana passada, estava doente.
My neighbor kicked the bucket last week, he was sick.
Origin
A more polite, older Portuguese euphemism for dying — buttoning up one's jacket refers to dressing the deceased for the coffin. It predates 'bater as botas' and has a slightly formal, almost courtly feel.
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More idioms
Acertar na moscaTo guess correctly / To hit the nail on the headAmigo da onçaA fake/false friendAndar na linhaTo toe the line / To behave properlyArmar um barracoTo cause a public sceneRodar a baianaTo cause a public scene / To go ballisticArrumar sarna pra se coçarTo ask for troubleArrastar as asasTo hit on someone / To flirtAbrir o jogoTo come clean / To open upArregaçar as mangasTo roll up one's sleeves / To get to workAgarrar com unhas e dentesTo hold on for dear life / To seize an opportunity