financial events

Credit Card Accountability Responsibility and Disclosure Act of 2009

A consumer protection law also called the Credit CARD Act. Among its provisions is a prohibition against retroactive rate increases, a requirement that terms be clearly spelled out, and an extension of time before late fees can be imposed. The law also increases protections for students and young people when it comes to new credit card offers.

Egelhoff v. Egelhoff (2001)

U.S. Supreme Court decision in which the Court ruled that a woman who was named as the beneficiary of her former husband's 401(k) plan was entitled to inherit the money in the plan, even though state law said that the divorce had automatically revoked her right to inherit. Because a 401(k) plan is ruled by federal law (ERISA), it overruled the state law.

will contest

A lawsuit challenging the validity of a will or some of its terms after the person who made the will has died. Will contests are quite rare. There are just a few legal grounds for challenging a will. The most common are undue influence by someone close to the deceased person, the deceased person's lack of capacity (understanding) when the will was signed, improper execution (signing and witnessing) of the will, or fraud (forgery, for example). (See also: no-contest clause)

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