financial events

Anti-Lapse Statute

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...

Anticontest Clause

Definition from Nolo’s Plain-English Law DictionarySee: no-contest clause

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

Antitransfer Laws

Antitransfer laws, sometimes referred to as transfer of assets rules, penalize individuals who obtain eligibility for public benefits, such as Medicaid or SSI, by disposing of assets for less than fair market value. For example, Title XIX of...

Applicable Exclusion Amount

The applicable exclusion amount (also known as unified credit) refers to the total gifts and estate transfers exempted from an individual’s gift and estate taxes. Every U.S. citizen has an applicable exclusion amount for all gifts made inter...

Appointees

In the context of a power of appointment, the appointees are the people the donee actually selects from the objects of the power.

Appointive Assets

In the context of a power of appointment, appointive assets refer to the property subject to the power.

Appraisal

Definition from Nolo’s Plain-English Law DictionaryA determination of the value of something, such as a house, jewelry, or stock. A professional appraiser -- a qualified, disinterested expert -- makes an estimate by examining the property, and looking at...

Appraise

Definition from Nolo’s Plain-English Law DictionaryTo professionally evaluate the value of property, such as real estate, jewelry, antique furniture, or securities; typically done in order to determine the value of assets for insurance coverage, divide...

Appraiser

Definition from Nolo’s Plain-English Law DictionaryA professional who is hired to determine the current value of real estate or other property. Some appraisers specialize in residential houses for the purpose of setting a sales price or securing a...

Appreciate

Appreciate means to increase in value (the opposite of depreciate). It may also mean: to understand or recognize the value or significance of something or someone.

See also: appreciation.

[Last updated in June of...

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