money and financial problems

A general devise is a monetary gift given in a will which is paid out of the estate’s general assets. Unlike a specific devise, a general devise is not identifiable as any specific property. 

• trusts and estates

A general intangible is the term for a non-physical asset that is not easily calculated. Examples include literary rights, things in action, and goodwill. General intangibles are particularly relevant when dealing with secured transactions.

General journal is a miscellaneous accounting journal used by businesses to record transactions that do not fit into any of their specialized journals such as a sales journal. Accounting journals are what businesses use to document all of the day-to-day inflows and outflows of the business to be used later in the ledger.

• accounting

General ledger is the main accounting ledger used by businesses to debit and credit accounts and is used to create businesses’ financial statements.

• accounting

A general power of appointment gives the holder, also known as the donee, the broad power to give away the decedent’s property to whoever the holder determines. For example, if a holder of a power of appointment can give the property to anyone in the world, that is a general power of appointment.

• trusts and estates

Going concern is an accounting term, which means a business is financially stable and can operate with the expectation of indefinite existence. A company must begin disclosing specific information on its financial statements if it can no longer be considered a going concern.

Goods and chattels generally refer to property that is not real estate, but the extent of the terms' coverage of property is highly challenged and jurisdiction specific. In common law, the term broadly included any moveable property or property rights that did not involve land and real estate, including rights such as leases. However, in modern statutes and case law, goods and chattels can be much less inclusive.

Goodwill refers to the good reputation or brand identification enjoyed by a commercial entity. In bankruptcy and other areas of law, goodwill is considered an intangible asset. 

Goodwill is generally calculated as the difference between the purchase price of a company and the sum of its fair market value.

A period of time during which a debtor is not required to make payments on a debt or will not be charged a fee. For example, most credit cards offer a grace period of 20 to 30 days before interest is charged on purchases; as long as you pay your bill in full within the grace period, you won't owe any interest.

Grantor-Retained Annuity Trust (GRAT) is a form of Grantor-Retained Trust set up by individuals to reduce taxes on an estate. To create a GRAT, a grantor creates an irrevocable trust that is for a limited period of time, paying taxes at the outset of the trust.