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family law

contestant

A contestant is someone who takes part in a competition or that contests an award or person. In the context of child custody cases, a contestant is “a person, including a parent, who claims a right to custody or visitation of a child” as cited by the case of re Interest of LW v. T.W 486 NW 2d 486

contingent

Contingent means that an event may or may not occur in the future, depending on the fulfillment of some condition that is uncertain. This term is often used in contracts where the event will not take effect until the specified condition occurs. The opposite term is vested, which means that an event is definite and unconditional.

contingent trust

Contingent trust is a trust that can only be created should certain conditions be met as stated in a person’s will. To set up a contingent trust, a person states in their will the specific conditions they wish to be met in order for the trust to be created, which assets should go into the trust, and who are the beneficiaries.

corporate trustee

A corporate trustee is a bank, trust company, or investment firm that is appointed to administer a trust. Individuals often select corporate trustees for their professional expertise, resources, and continuity, which family members or friends may lack.

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