trusts, inheritances & estates

Coparcenary

Definition from Nolo’s Plain-English Law Dictionary1) Joint ownership. 2) An estate that is jointly inherited, in equal shares, from a single ancestor.

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

Corporate Trustee

Corporate trustees are departments at banks or other investment firms hired to build and manage a trust. People hire corporate trustees for their professional experience in trust matters that a family member or friend may not have. Corporate...

Corpus

This Latin word for "body" can have several meanings, including referring to the body of the prisoner (as in habeas corpus), and the body of a trust (where it refers to the principal of the trust, as opposed to the interest).

Cost Basis

Also called tax basis, cost basis is the original cost of acquiring a property (usually its purchase price plus any commissions or fees), for tax purposes. It is primarily used for computing capital gain or loss from the transfer of property...

Cotrustee

Cotrustee (also known as joint trustee) refers to a manager of a trust with multiple trustees. A trust can be established with numerous trustees which may be necessary for large trusts or those involving complex assets. The trustees can have...

Counter Wills

Counter wills, also called mutual or reciprocal wills, are separate wills between two people that have identical or similar provisions leaving each person’s property to the other or to a third person. The agreement in a compact for mutual...

Credit Shelter Trust

See Bypass Trust.

Creditor's Claim

Definition from Nolo’s Plain-English Law Dictionary1) A written claim filed in federal bankruptcy court by a person or entity owed money by a debtor who has filed for bankruptcy. 2) A written claim filed in probate court by a person or entity owed money...

Cum Testamento Annexo

Definition from Nolo’s Plain-English Law DictionarySee: administrator with will annexed.

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

Curtesy

Definition from Nolo’s Plain-English Law DictionarySee: dower and curtesy

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

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