1) In trusts and estates law, assets produced by a devised asset after the execution of a will.
2) In secured transactions law, goods that physically united with other goods in a way that doesn't lose the identity of the original goods...
trusts and estates
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Ademption by extinction occurs when a testator devises a specific piece of property in his will and the testator no longer owns that property at his death. That specifically devised property is therefore adeemed, and the devise fails.
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An anti-lapse statute is a rule of construction in trusts and estates law. If a testator devises a gift to a person in his will and the devisee predeceases the testator, the anti-lapse statute will allow the gift to pass on to the devisee’s descendants...
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In the context of a power of appointment, the appointees are the people the donee actually selects from the objects of the power.
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In the context of a power of appointment, appointive assets refer to the property subject to the power.
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An asset protection trust is a self-settled spendthrift trust. This means it is a trust that an individual creates a trust for himself that is protected from creditors. Asset protection trusts are normally found outside of the United States. The...
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Definition
A medical examination of a corpse to determine disease, injury, and cause of death, especially in a criminal investigation. Also termed postmortem; postmortem examination; necropsy; obduction.
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The capture doctrine is a theory in trust law that exists in a few US states. If there exists evidence that the donee of a power of appointment intended to exercise control over the appointive assets, even if the exercise of the power was invalid or...
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A charitable trust qualifies for certain favorable treatment under U.S. law. For example, it is not subject to the rule against perpetuities and cannot fail for a lack of definite beneficiaries. To qualify as a charitable trust, the trust must have a...
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If it becomes unlawful, impossible or impracticable to carry out the purpose of the designated charitable trust or becomes wasteful to apply all the property to the designated purpose, the trust will not fail but instead the court will direct the...