Glossary
Plain-language definitions connected to the deeper wills, trusts, tax, probate, beneficiary, and state-law system.
53 مداخل مرجعية
A court-appointed personal representative who administers an estate when no executor is serving under a will.
الفكرة الرئيسية: A court-appointed personal representative who administers an estate when no executor is serving under a will.
اقرأ الدليل الكاملA person authorized to act for another, commonly under a power of attorney; the document and governing law define the authority.
الفكرة الرئيسية: A person authorized to act for another, commonly under a power of attorney; the document and governing law define the authority.
اقرأ الدليل الكاملA tax-year-specific federal gift-tax rule that can exclude qualifying present-interest gifts up to the current statutory amount per recipient; verify the current IRS figure and conditions.
الفكرة الرئيسية: A tax-year-specific federal gift-tax rule that can exclude qualifying present-interest gifts up to the current statutory amount per recipient; verify the current IRS figure and conditions.
اقرأ الدليل الكاملAn objectively framed distribution standard—often health, education, maintenance, and support—used in trust and tax analysis; the exact language and facts matter.
الفكرة الرئيسية: An objectively framed distribution standard—often health, education, maintenance, and support—used in trust and tax analysis; the exact language and facts matter.
اقرأ الدليل الكاملA person, charity, estate, trust, or other permitted recipient entitled to receive or potentially receive property under an instrument, account, or law.
الفكرة الرئيسية: A person, charity, estate, trust, or other permitted recipient entitled to receive or potentially receive property under an instrument, account, or law.
اقرأ الدليل الكاملA gift of property made by will; modern statutes and documents may use broader terms such as devise.
الفكرة الرئيسية: A gift of property made by will; modern statutes and documents may use broader terms such as devise.
اقرأ الدليل الكاملA formally executed amendment to a will that must satisfy applicable execution rules and be read with the original will.
الفكرة الرئيسية: A formally executed amendment to a will that must satisfy applicable execution rules and be read with the original will.
اقرأ الدليل الكاملA marital-property system that generally classifies qualifying property acquired during marriage as owned by the marital community, subject to state-specific tracing and exceptions.
الفكرة الرئيسية: A marital-property system that generally classifies qualifying property acquired during marriage as owned by the marital community, subject to state-specific tracing and exceptions.
اقرأ الدليل الكاملThe federal exclusion amount potentially made available to a surviving spouse through a valid portability election by the deceased spouse's estate.
الفكرة الرئيسية: The federal exclusion amount potentially made available to a surviving spouse through a valid portability election by the deceased spouse's estate.
اقرأ الدليل الكاملA person who has died; tax forms and probate statutes use the term to identify the person whose property and obligations are being administered.
الفكرة الرئيسية: A person who has died; tax forms and probate statutes use the term to identify the person whose property and obligations are being administered.
اقرأ الدليل الكاملA testamentary transfer under a will; depending on the statute or document, it may cover real or personal property.
الفكرة الرئيسية: A testamentary transfer under a will; depending on the statute or document, it may cover real or personal property.
اقرأ الدليل الكاملA person's permanent legal home based on physical presence and intent; it can affect probate, marital property, state tax, and jurisdiction and is not always the same as residence.
الفكرة الرئيسية: A person's permanent legal home based on physical presence and intent; it can affect probate, marital property, state tax, and jurisdiction and is not always the same as residence.
اقرأ الدليل الكاملDepending on context, the property and obligations associated with a person, the probate estate under court administration, or a separate tax entity after death.
الفكرة الرئيسية: Depending on context, the property and obligations associated with a person, the probate estate under court administration, or a separate tax entity after death.
اقرأ الدليل الكاملTreatment of property or an interest as part of a decedent's gross estate for transfer-tax purposes; ownership title alone does not answer every inclusion rule.
الفكرة الرئيسية: Treatment of property or an interest as part of a decedent's gross estate for transfer-tax purposes; ownership title alone does not answer every inclusion rule.
اقرأ الدليل الكاملA person nominated in a will and generally appointed by a court to administer the probate estate; many states use personal representative as the broader term.
الفكرة الرئيسية: A person nominated in a will and generally appointed by a court to administer the probate estate; many states use personal representative as the broader term.
اقرأ الدليل الكاملA person or institution required to act under duties of loyalty, care, impartiality, prudence, and recordkeeping as applicable to the role and governing law.
الفكرة الرئيسية: A person or institution required to act under duties of loyalty, care, impartiality, prudence, and recordkeeping as applicable to the role and governing law.
اقرأ الدليل الكاملA federal gift-tax election that can treat qualifying gifts by one spouse as made one-half by each spouse when requirements and consents are satisfied.
الفكرة الرئيسية: A federal gift-tax election that can treat qualifying gifts by one spouse as made one-half by each spouse when requirements and consents are satisfied.
اقرأ الدليل الكاملA person treated as transferring property to a trust; settlor and trustor are common state-law synonyms, while federal tax law can use grantor in a technical way.
الفكرة الرئيسية: A person treated as transferring property to a trust; settlor and trustor are common state-law synonyms, while federal tax law can use grantor in a technical way.
اقرأ الدليل الكاملThe federal transfer-tax measure that can include probate and nonprobate property, certain insurance, retained interests, and other items before deductions.
الفكرة الرئيسية: The federal transfer-tax measure that can include probate and nonprobate property, certain insurance, retained interests, and other items before deductions.
اقرأ الدليل الكاملA court-appointed person responsible for personal or health-related decisions for a minor or protected adult; some states use different labels or divide personal and property roles.
الفكرة الرئيسية: A court-appointed person responsible for personal or health-related decisions for a minor or protected adult; some states use different labels or divide personal and property roles.
اقرأ الدليل الكاملA person or document authorizing health decisions for another when applicable conditions are met; terminology varies by state.
الفكرة الرئيسية: A person or document authorizing health decisions for another when applicable conditions are met; terminology varies by state.
اقرأ الدليل الكاملA person entitled under intestacy law to inherit probate property; an heir is not necessarily the same as a beneficiary named in a will or account.
الفكرة الرئيسية: A person entitled under intestacy law to inherit probate property; an heir is not necessarily the same as a beneficiary named in a will or account.
اقرأ الدليل الكاملA will written and signed in the testator's handwriting under rules recognized in some, but not all, states; requirements and treatment vary.
الفكرة الرئيسية: A will written and signed in the testator's handwriting under rules recognized in some, but not all, states; requirements and treatment vary.
اقرأ الدليل الكاملCertain taxable income the decedent was entitled to but had not received before death; it generally does not receive the ordinary section 1014 basis adjustment.
الفكرة الرئيسية: Certain taxable income the decedent was entitled to but had not received before death; it generally does not receive the ordinary section 1014 basis adjustment.
اقرأ الدليل الكاملThe state-law system distributing probate property not effectively disposed of by a valid will.
الفكرة الرئيسية: The state-law system distributing probate property not effectively disposed of by a valid will.
اقرأ الدليل الكاملA person's lineal descendants, such as children and later generations, interpreted under the document and governing law.
الفكرة الرئيسية: A person's lineal descendants, such as children and later generations, interpreted under the document and governing law.
اقرأ الدليل الكاملThe ability to understand and decide a particular legal matter under the applicable standard; capacity can be task-specific and may fluctuate.
الفكرة الرئيسية: The ability to understand and decide a particular legal matter under the applicable standard; capacity can be task-specific and may fluctuate.
اقرأ الدليل الكاملA court-issued credential evidencing an executor's authority after appointment; terminology and electronic verification vary by jurisdiction.
الفكرة الرئيسية: A court-issued credential evidencing an executor's authority after appointment; terminology and electronic verification vary by jurisdiction.
اقرأ الدليل الكاملA federal estate- or gift-tax deduction for qualifying transfers to a spouse, subject to citizenship, property-interest, and election requirements.
الفكرة الرئيسية: A federal estate- or gift-tax deduction for qualifying transfers to a spouse, subject to citizenship, property-interest, and election requirements.
اقرأ الدليل الكاملA provision that may reduce or eliminate a beneficiary's gift after a covered challenge; enforceability, probable-cause exceptions, and scope vary by state.
الفكرة الرئيسية: A provision that may reduce or eliminate a beneficiary's gift after a covered challenge; enforceability, probable-cause exceptions, and scope vary by state.
اقرأ الدليل الكاملA method of dividing property into equal shares among people at a specified generational level or class; document wording controls the exact method.
الفكرة الرئيسية: A method of dividing property into equal shares among people at a specified generational level or class; document wording controls the exact method.
اقرأ الدليل الكاملA representation-based distribution method in which a deceased beneficiary's branch may take that beneficiary's share; state definitions and drafting variants differ.
الفكرة الرئيسية: A representation-based distribution method in which a deceased beneficiary's branch may take that beneficiary's share; state definitions and drafting variants differ.
اقرأ الدليل الكاملThe umbrella term in many jurisdictions for the fiduciary administering a decedent's probate estate, including an executor or administrator.
الفكرة الرئيسية: The umbrella term in many jurisdictions for the fiduciary administering a decedent's probate estate, including an executor or administrator.
اقرأ الدليل الكاملThe federal process by which a surviving spouse may use a deceased spouse's DSUE after a valid estate-tax-return election; GST exemption is not portable.
الفكرة الرئيسية: The federal process by which a surviving spouse may use a deceased spouse's DSUE after a valid estate-tax-return election; GST exemption is not portable.
اقرأ الدليل الكاملAuthority given to a power holder to designate who may receive specified property; general and limited powers can have different tax and creditor effects.
الفكرة الرئيسية: Authority given to a power holder to designate who may receive specified property; general and limited powers can have different tax and creditor effects.
اقرأ الدليل الكاملThe judicial process for appointing estate authority, validating a will where required, handling claims, and transferring probate property.
الفكرة الرئيسية: The judicial process for appointing estate authority, validating a will where required, handling claims, and transferring probate property.
اقرأ الدليل الكاملAn irrevocable refusal to accept property that can have special federal transfer-tax treatment if statutory requirements, timing, and lack-of-acceptance rules are met; state property law also applies.
الفكرة الرئيسية: An irrevocable refusal to accept property that can have special federal transfer-tax treatment if statutory requirements, timing, and lack-of-acceptance rules are met; state property law also applies.
اقرأ الدليل الكاملThe probate property left after specific gifts, expenses, claims, taxes, and other charges are handled under the will and law.
الفكرة الرئيسية: The probate property left after specific gifts, expenses, claims, taxes, and other charges are handled under the will and law.
اقرأ الدليل الكاملThe person who creates or contributes property to a trust; grantor and trustor are common synonyms, with context-specific tax meanings.
الفكرة الرئيسية: The person who creates or contributes property to a trust; grantor and trustor are common synonyms, with context-specific tax meanings.
اقرأ الدليل الكاملA person or trust classified under federal GST rules as two or more generations below the transferor, or otherwise meeting the statutory definition.
الفكرة الرئيسية: A person or trust classified under federal GST rules as two or more generations below the transferor, or otherwise meeting the statutory definition.
اقرأ الدليل الكاملTrust language restricting a beneficiary's transfer of an interest before distribution and limiting some creditor access, subject to state-law exceptions.
الفكرة الرئيسية: Trust language restricting a beneficiary's transfer of an interest before distribution and limiting some creditor access, subject to state-law exceptions.
اقرأ الدليل الكاملA tax measure used to calculate gain, loss, depreciation, and other consequences; acquisition, gifts, death, improvements, and entity rules can change it.
الفكرة الرئيسية: A tax measure used to calculate gain, loss, depreciation, and other consequences; acquisition, gifts, death, improvements, and entity rules can change it.
اقرأ الدليل الكاملThe federal estate-tax base after permitted deductions from the gross estate, before application of the tax computation and credits.
الفكرة الرئيسية: The federal estate-tax base after permitted deductions from the gross estate, before application of the tax computation and credits.
اقرأ الدليل الكاملCreated by or taking effect under a will at death, as in a testamentary trust.
الفكرة الرئيسية: Created by or taking effect under a will at death, as in a testamentary trust.
اقرأ الدليل الكاملA state-law process that may allow a trustee to distribute assets from one trust into a new trust with modified terms, subject to statutory authority, fiduciary duties, beneficiary rights, and tax review.
الفكرة الرئيسية: A state-law process that may allow a trustee to distribute assets from one trust into a new trust with modified terms, subject to statutory authority, fiduciary duties, beneficiary rights, and tax review.
اقرأ الدليل الكاملA person holding a power of direction over a trustee under a directed-trust structure; fiduciary status and liability depend on governing law and the instrument.
الفكرة الرئيسية: A person holding a power of direction over a trustee under a directed-trust structure; fiduciary status and liability depend on governing law and the instrument.
اقرأ الدليل الكاملAccounting categories allocating receipts and expenses between capital and current return; they are not identical to taxable principal and income.
الفكرة الرئيسية: Accounting categories allocating receipts and expenses between capital and current return; they are not identical to taxable principal and income.
اقرأ الدليل الكاملA person granted specified oversight or amendment powers outside ordinary trustee duties; the title has no single universal set of powers.
الفكرة الرئيسية: A person granted specified oversight or amendment powers outside ordinary trustee duties; the title has no single universal set of powers.
اقرأ الدليل الكاملThe legal and administrative connection of a trust to a jurisdiction, potentially affected by governing law, trustee location, administration, assets, and court jurisdiction.
الفكرة الرئيسية: The legal and administrative connection of a trust to a jurisdiction, potentially affected by governing law, trustee location, administration, assets, and court jurisdiction.
اقرأ الدليل الكاملThe fiduciary holding and administering trust property under the instrument and governing law for beneficiaries or a permitted purpose.
الفكرة الرئيسية: The fiduciary holding and administering trust property under the instrument and governing law for beneficiaries or a permitted purpose.
اقرأ الدليل الكاملImproper pressure that overcomes a person's free intent in making a will, trust, gift, or designation; proof is fact- and state-specific.
الفكرة الرئيسية: Improper pressure that overcomes a person's free intent in making a will, trust, gift, or designation; proof is fact- and state-specific.
اقرأ الدليل الكاملA revocable document during life that directs probate property and makes nominations or testamentary trusts effective at death, subject to state execution law.
الفكرة الرئيسية: A revocable document during life that directs probate property and makes nominations or testamentary trusts effective at death, subject to state execution law.
اقرأ الدليل الكاملA person who observes or acknowledges execution as required and may later attest to it; eligibility and presence rules vary by state and document.
الفكرة الرئيسية: A person who observes or acknowledges execution as required and may later attest to it; eligibility and presence rules vary by state and document.
اقرأ الدليل الكامل
