Term
|
Definition
| Personal representative of an intestate. |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Relative of a previous generation. |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Nonline3al blood relations. |
|
|
Term
|
Definition
| Relationship determined by blood ties. |
|
|
Term
|
Definition
| Group of persons of the same degree. |
|
|
Term
|
Definition
| Number of generations a person is removed from the decedent. |
|
|
Term
|
Definition
| Intestate inheritor of personal property. |
|
|
Term
|
Definition
| Process by which the state inherits property of an intestate who has no heirs. |
|
|
Term
|
Definition
| Intestate inheritor of real property. |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Persons who are entitled to inherit property of a person who dies without a will. |
|
|
Term
|
Definition
| Direct lineal descendents. |
|
|
Term
| Laws of descent and distribution |
|
Definition
| Statutes indicating a persons intestate heirs. |
|
|
Term
|
Definition
| Statutes indicating a persons intestate heirs. |
|
|
Term
| Letters of administration |
|
Definition
| Court orders authorizing the personal representative of an intestate to administer the estate. |
|
|
Term
|
Definition
| Blood relatives directly ascending or descending. |
|
|
Term
|
Definition
| Children born out of wedlock. |
|
|
Term
|
Definition
| Equally to each person in his or her own right. |
|
|
Term
|
Definition
| Taking property by right of representation. |
|
|
Term
|
Definition
| Legal ability to execute a will. |
|
|
Term
|
Definition
|
|
Term
| Administrative Control Rule |
|
Definition
| Tax rule for short-term trust making the trustor tax liable if he retains administrative control over the trust. |
|
|
Term
|
Definition
| Person who has equitable title to a trust. |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Trust created for a public, charitable purpose. |
|
|
Term
| Charitable remainder annuity trust |
|
Definition
| Trust in which the income goes to a private person and the remainder goes to charity. |
|
|
Term
| Charitable remainder unitrust |
|
Definition
| Trust in which a private person receives a percentage of the income, the rest and the remainder going to charity. |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Implied trust used to right a wrong |
|
|
Term
|
Definition
| Methosd of transferring realty to a trust. |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
| Doctrine permitting changes in the operation of a public trust. |
|
|
Term
|
Definition
| Trust taking effect during the life of the trustor. |
|
|
Term
|
Definition
| Instrument creating an inter vivos trust. |
|
|
Term
|
Definition
| Method of transferring realty to a trust. |
|
|
Term
|
Definition
| Trust in which trustee is given broad powers of discretion with respect to investments and distribution of income. |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Tax rule stating trusts that exist for less than ten years and a day, or the life of the beneficiary, make the grantor tax liable. |
|
|
Term
|
Definition
| Tax rule for short-term trusts making the trustor tax liable if he may enjoy the income from the trust. |
|
|
Term
|
Definition
| Title giving the beneficiary the right to enjoy the trust property subject to limitations imposed by the trustor. |
|
|
Term
|
Definition
| Trust created by the voluntary and deliberate act of the trustor. |
|
|
Term
|
Definition
| Trust that terminates because its objective cannot be accomplished. |
|
|
Term
|
Definition
| Doctrine stating a person is capable of bearing children until death. |
|
|
Term
|
Definition
| Trustee, a person held to a standard of care higher than ordinary care. |
|
|
Term
|
Definition
| Tax returns filed by trustees and executors. |
|
|
Term
| Generation skipping transfer |
|
Definition
| Trusts that benefit persons two or more generations removed from the trustor are subject to special tax rules. |
|
|
Term
|
Definition
| Person who creates a trust with real estate. |
|
|
Term
|
Definition
| Trust created by operation of law. |
|
|
Term
|
Definition
| Group identified by general characteristics, a charitable group. |
|
|
Term
|
Definition
| Court order to stop performing a specified act. |
|
|
Term
|
Definition
| Statutorily approved investments for fiduciaries. |
|
|
Term
|
Definition
| Title held by the trustee giving the holder the right to preserve, protect, and defend the trust property, subject to duties imposed by the trustor. |
|
|
Term
|
Definition
| Resulting trust with income greater than is needed to accomplish the trust purpose. |
|
|
Term
|
Definition
| Tax rule for short-term trust making the trustor tax liable if the trust can be used to pay the trustors insurance premiums. |
|
|
Term
|
Definition
| Property being added to the corpus of a separate trust. |
|
|
Term
|
Definition
| legal right to select successor beneficiary. |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Trust designed to fulfill a private purpose of the trustor. |
|
|
Term
|
Definition
|
|
Term
| Purchase money resulting trust |
|
Definition
| Resulting trust in which person holds property for the benefit of the person who paid for the property. |
|
|
Term
| Qualified terminable interest property (QTIP) |
|
Definition
| Property left to a surviving spouse under a trust that qualifies for a marital deduction. |
|
|
Term
|
Definition
| Tax rule taxing the trustor of a short-term trust. |
|
|
Term
|
Definition
| Person in whom legal and equitable titles merge. |
|
|
Term
|
Definition
| Trust property consisting of personally. |
|
|
Term
|
Definition
| Implied trust in which the trust property reverts to the trustor. |
|
|
Term
|
Definition
| Legal and equitable title merging in the trustor. |
|
|
Term
|
Definition
| Remainder interests of a trustor. |
|
|
Term
|
Definition
| Trust in which the trustor retains the power to revoke. |
|
|
Term
| Rule Against Perpetuities |
|
Definition
| All interests must vest, if at all, within 21 years after the death of a life in being plus the period of gestation. |
|
|
Term
|
Definition
| State statutory rules used to save trusts from violating the rule against perpetuities. |
|
|
Term
|
Definition
| Breach of fiduciary obligation in which trustee makes a benefit for himself instead of the trust. |
|
|
Term
|
Definition
| Trustor who creates a trust with personal property. |
|
|
Term
|
Definition
| Legal inability to sue the government. |
|
|
Term
|
Definition
| Court order to perform a specific act. |
|
|
Term
|
Definition
| Trust designed to prevent the beneficiary from alienating his interest. |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
| Feudal law concerned with trusts. |
|
|
Term
|
Definition
| Trust provided by specific state statute. |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Bank account in trust for" a third party. |
|
|
Term
|
Definition
| Document creating a trust. |
|
|
Term
|
Definition
| Person who holds legal title to trust property. |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
| Moment at which a person has an enforceable right. |
|
|
