Glossary
Plain-language definitions connected to the deeper wills, trusts, tax, probate, beneficiary, and state-law system.
53 संदर्भ प्रविष्टियाँ
A court-appointed personal representative who administers an estate when no executor is serving under a will.
मुख्य विचार: A court-appointed personal representative who administers an estate when no executor is serving under a will.
संपूर्ण गाइड पढ़ेंA person authorized to act for another, commonly under a power of attorney; the document and governing law define the authority.
मुख्य विचार: A person authorized to act for another, commonly under a power of attorney; the document and governing law define the authority.
संपूर्ण गाइड पढ़ेंA 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंAn objectively framed distribution standard—often health, education, maintenance, and support—used in trust and tax analysis; the exact language and facts matter.
मुख्य विचार: An objectively framed distribution standard—often health, education, maintenance, and support—used in trust and tax analysis; the exact language and facts matter.
संपूर्ण गाइड पढ़ेंA person, charity, estate, trust, or other permitted recipient entitled to receive or potentially receive property under an instrument, account, or law.
मुख्य विचार: A person, charity, estate, trust, or other permitted recipient entitled to receive or potentially receive property under an instrument, account, or law.
संपूर्ण गाइड पढ़ेंA gift of property made by will; modern statutes and documents may use broader terms such as devise.
मुख्य विचार: A gift of property made by will; modern statutes and documents may use broader terms such as devise.
संपूर्ण गाइड पढ़ेंA formally executed amendment to a will that must satisfy applicable execution rules and be read with the original will.
मुख्य विचार: A formally executed amendment to a will that must satisfy applicable execution rules and be read with the original will.
संपूर्ण गाइड पढ़ेंA marital-property system that generally classifies qualifying property acquired during marriage as owned by the marital community, subject to state-specific tracing and exceptions.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंThe federal exclusion amount potentially made available to a surviving spouse through a valid portability election by the deceased spouse's estate.
मुख्य विचार: The federal exclusion amount potentially made available to a surviving spouse through a valid portability election by the deceased spouse's estate.
संपूर्ण गाइड पढ़ेंA person who has died; tax forms and probate statutes use the term to identify the person whose property and obligations are being administered.
मुख्य विचार: A person who has died; tax forms and probate statutes use the term to identify the person whose property and obligations are being administered.
संपूर्ण गाइड पढ़ेंA testamentary transfer under a will; depending on the statute or document, it may cover real or personal property.
मुख्य विचार: A testamentary transfer under a will; depending on the statute or document, it may cover real or personal property.
संपूर्ण गाइड पढ़ेंA 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंDepending on context, the property and obligations associated with a person, the probate estate under court administration, or a separate tax entity after death.
मुख्य विचार: Depending on context, the property and obligations associated with a person, the probate estate under court administration, or a separate tax entity after death.
संपूर्ण गाइड पढ़ेंTreatment 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंA 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंA person or institution required to act under duties of loyalty, care, impartiality, prudence, and recordkeeping as applicable to the role and governing law.
मुख्य विचार: A person or institution required to act under duties of loyalty, care, impartiality, prudence, and recordkeeping as applicable to the role and governing law.
संपूर्ण गाइड पढ़ेंA 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंA 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंThe federal transfer-tax measure that can include probate and nonprobate property, certain insurance, retained interests, and other items before deductions.
मुख्य विचार: The federal transfer-tax measure that can include probate and nonprobate property, certain insurance, retained interests, and other items before deductions.
संपूर्ण गाइड पढ़ेंA 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंA person or document authorizing health decisions for another when applicable conditions are met; terminology varies by state.
मुख्य विचार: A person or document authorizing health decisions for another when applicable conditions are met; terminology varies by state.
संपूर्ण गाइड पढ़ेंA 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंA will written and signed in the testator's handwriting under rules recognized in some, but not all, states; requirements and treatment vary.
मुख्य विचार: A will written and signed in the testator's handwriting under rules recognized in some, but not all, states; requirements and treatment vary.
संपूर्ण गाइड पढ़ेंCertain taxable income the decedent was entitled to but had not received before death; it generally does not receive the ordinary section 1014 basis adjustment.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंThe state-law system distributing probate property not effectively disposed of by a valid will.
मुख्य विचार: The state-law system distributing probate property not effectively disposed of by a valid will.
संपूर्ण गाइड पढ़ेंA person's lineal descendants, such as children and later generations, interpreted under the document and governing law.
मुख्य विचार: A person's lineal descendants, such as children and later generations, interpreted under the document and governing law.
संपूर्ण गाइड पढ़ेंThe ability to understand and decide a particular legal matter under the applicable standard; capacity can be task-specific and may fluctuate.
मुख्य विचार: The ability to understand and decide a particular legal matter under the applicable standard; capacity can be task-specific and may fluctuate.
संपूर्ण गाइड पढ़ेंA court-issued credential evidencing an executor's authority after appointment; terminology and electronic verification vary by jurisdiction.
मुख्य विचार: A court-issued credential evidencing an executor's authority after appointment; terminology and electronic verification vary by jurisdiction.
संपूर्ण गाइड पढ़ेंA federal estate- or gift-tax deduction for qualifying transfers to a spouse, subject to citizenship, property-interest, and election requirements.
मुख्य विचार: A federal estate- or gift-tax deduction for qualifying transfers to a spouse, subject to citizenship, property-interest, and election requirements.
संपूर्ण गाइड पढ़ेंA provision that may reduce or eliminate a beneficiary's gift after a covered challenge; enforceability, probable-cause exceptions, and scope vary by state.
मुख्य विचार: A provision that may reduce or eliminate a beneficiary's gift after a covered challenge; enforceability, probable-cause exceptions, and scope vary by state.
संपूर्ण गाइड पढ़ेंA method of dividing property into equal shares among people at a specified generational level or class; document wording controls the exact method.
मुख्य विचार: A method of dividing property into equal shares among people at a specified generational level or class; document wording controls the exact method.
संपूर्ण गाइड पढ़ेंA representation-based distribution method in which a deceased beneficiary's branch may take that beneficiary's share; state definitions and drafting variants differ.
मुख्य विचार: A representation-based distribution method in which a deceased beneficiary's branch may take that beneficiary's share; state definitions and drafting variants differ.
संपूर्ण गाइड पढ़ेंThe umbrella term in many jurisdictions for the fiduciary administering a decedent's probate estate, including an executor or administrator.
मुख्य विचार: The umbrella term in many jurisdictions for the fiduciary administering a decedent's probate estate, including an executor or administrator.
संपूर्ण गाइड पढ़ेंThe 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंAuthority given to a power holder to designate who may receive specified property; general and limited powers can have different tax and creditor effects.
मुख्य विचार: Authority given to a power holder to designate who may receive specified property; general and limited powers can have different tax and creditor effects.
संपूर्ण गाइड पढ़ेंThe judicial process for appointing estate authority, validating a will where required, handling claims, and transferring probate property.
मुख्य विचार: The judicial process for appointing estate authority, validating a will where required, handling claims, and transferring probate property.
संपूर्ण गाइड पढ़ेंAn 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंThe probate property left after specific gifts, expenses, claims, taxes, and other charges are handled under the will and law.
मुख्य विचार: The probate property left after specific gifts, expenses, claims, taxes, and other charges are handled under the will and law.
संपूर्ण गाइड पढ़ेंThe person who creates or contributes property to a trust; grantor and trustor are common synonyms, with context-specific tax meanings.
मुख्य विचार: The person who creates or contributes property to a trust; grantor and trustor are common synonyms, with context-specific tax meanings.
संपूर्ण गाइड पढ़ेंA person or trust classified under federal GST rules as two or more generations below the transferor, or otherwise meeting the statutory definition.
मुख्य विचार: A person or trust classified under federal GST rules as two or more generations below the transferor, or otherwise meeting the statutory definition.
संपूर्ण गाइड पढ़ेंTrust language restricting a beneficiary's transfer of an interest before distribution and limiting some creditor access, subject to state-law exceptions.
मुख्य विचार: Trust language restricting a beneficiary's transfer of an interest before distribution and limiting some creditor access, subject to state-law exceptions.
संपूर्ण गाइड पढ़ेंA tax measure used to calculate gain, loss, depreciation, and other consequences; acquisition, gifts, death, improvements, and entity rules can change it.
मुख्य विचार: A tax measure used to calculate gain, loss, depreciation, and other consequences; acquisition, gifts, death, improvements, and entity rules can change it.
संपूर्ण गाइड पढ़ेंThe federal estate-tax base after permitted deductions from the gross estate, before application of the tax computation and credits.
मुख्य विचार: The federal estate-tax base after permitted deductions from the gross estate, before application of the tax computation and credits.
संपूर्ण गाइड पढ़ेंCreated by or taking effect under a will at death, as in a testamentary trust.
मुख्य विचार: Created by or taking effect under a will at death, as in a testamentary trust.
संपूर्ण गाइड पढ़ेंA 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंA 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.
मुख्य विचार: 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.
संपूर्ण गाइड पढ़ेंAccounting categories allocating receipts and expenses between capital and current return; they are not identical to taxable principal and income.
मुख्य विचार: Accounting categories allocating receipts and expenses between capital and current return; they are not identical to taxable principal and income.
संपूर्ण गाइड पढ़ेंA person granted specified oversight or amendment powers outside ordinary trustee duties; the title has no single universal set of powers.
मुख्य विचार: A person granted specified oversight or amendment powers outside ordinary trustee duties; the title has no single universal set of powers.
संपूर्ण गाइड पढ़ेंThe legal and administrative connection of a trust to a jurisdiction, potentially affected by governing law, trustee location, administration, assets, and court jurisdiction.
मुख्य विचार: The legal and administrative connection of a trust to a jurisdiction, potentially affected by governing law, trustee location, administration, assets, and court jurisdiction.
संपूर्ण गाइड पढ़ेंThe fiduciary holding and administering trust property under the instrument and governing law for beneficiaries or a permitted purpose.
मुख्य विचार: The fiduciary holding and administering trust property under the instrument and governing law for beneficiaries or a permitted purpose.
संपूर्ण गाइड पढ़ेंImproper pressure that overcomes a person's free intent in making a will, trust, gift, or designation; proof is fact- and state-specific.
मुख्य विचार: Improper pressure that overcomes a person's free intent in making a will, trust, gift, or designation; proof is fact- and state-specific.
संपूर्ण गाइड पढ़ेंA revocable document during life that directs probate property and makes nominations or testamentary trusts effective at death, subject to state execution law.
मुख्य विचार: A revocable document during life that directs probate property and makes nominations or testamentary trusts effective at death, subject to state execution law.
संपूर्ण गाइड पढ़ेंA person who observes or acknowledges execution as required and may later attest to it; eligibility and presence rules vary by state and document.
मुख्य विचार: A person who observes or acknowledges execution as required and may later attest to it; eligibility and presence rules vary by state and document.
संपूर्ण गाइड पढ़ें
