financial events

Alternative Contingent Remainder

A pair of remainders that have opposite conditions precedent.

Ambiguity

Ambiguity means language in an agreement has more than one meaning. Cases such as this one from New York explain that ambiguity in the context of a contract is defined as “whether a reasonably intelligent person looking at the contract...

Ameliorative Waste

In property law, refers to a situation where a tenant makes repairs and improvements on property that increase the value of the property, but, did not ask permission of the landowner or any future interest holders to make these improvements.

Amend

To amend is to change by adding, subtracting, or substituting. One can amend a statute, a contract, the Constitution of the United States, or a pleading filed in a law suit.

For example, Article V of the...

Ancestor

The relative of a particular individual from whom that individual is descended directly.

Ancillary Administration

Definition from Nolo’s Plain-English Law DictionaryA probate court proceeding conducted in a different state from the one the deceased person resided in at the time of death. Usually, ancillary probate is necessary if the deceased person owned real estate...

Ancillary Probate

Definition from Nolo’s Plain-English Law DictionarySee: ancillary administration

Definition provided by Nolo’s Plain-English Law Dictionary.

Annual Exclusion Amount

The Annual Exclusion amount is the amount of money that one person may transfer to another as a gift without incurring a gift tax or affecting the unified credit. This annual gift exclusion can be transferred in the form of cash or other...

Annual Exclusion Gift

An annual exclusion gift usually involves cash, stocks, bonds, portions of real estate, or forgiving debt on a family loan in an amount that doesn't exceed the annual gift tax exclusion. The federal government sets the...

Annuity

Annuities are long-term contracts between individuals and insurance companies that individuals typically enter into as part of retirement planning. Individuals make payments to the insurance company, which the insurance company will in turn invest...

Pages