Moldova Trusts Lawyer List
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LEGAL TERMS
PUBLISHED WORK
An original work of authorship that is considered published for purposes of copyright law. A work is 'published' when it is first made available to the public o... (more...)
An original work of authorship that is considered published for purposes of copyright law. A work is 'published' when it is first made available to the public on an unrestricted basis. It is thus possible to display a work, or distribute it with restrictions on disclosure of its contents, without actually 'publishing' it. Both published and unpublished works are entitled to copyright protection, but some of the rules differ.
CHARITABLE TRUST
Any trust designed to make a substantial gift to a charity and also achieve income and estate tax savings for the person who creates the trust (the grantor).
SPRINKLING TRUST
A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.
FAMILY ALLOWANCE
A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to ... (more...)
A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to help support the surviving spouse and children during the time it takes to probate the estate. The amount is determined by state law and varies greatly from state to state.
ENDOWMENT INSURANCE
Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death.... (more...)
Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death. If the policy-holder dies sooner, the beneficiary named in the policy receives the proceeds.
ADMINISTRATION (OF AN ESTATE)
The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. I... (more...)
The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. If not, the court appoints someone, who is generally known as the administrator. In some states, the person is called the 'personal representative' in either instance.
PRETERMITTED HEIR
A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child b... (more...)
A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child born or adopted after the will is made may be deemed a pretermitted heir. If the court determines that an heir was accidentally omitted, that heir is entitled to receive the same share of the estate as she would have if the deceased had died without a will. A pretermitted heir is sometimes called an 'omitted heir.'
PREDECEASED SPOUSE
In the law of wills, a spouse who dies before the will maker while still married to him or her.
QTIP TRUST
A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the... (more...)
A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.
SAMPLE LEGAL CASES
Johnson v. Johnson
... George T. Bogert, The Law of Trusts and Trustees § 181 at 244-46 (Rev.2d ed.1979) (internal
footnotes omitted). ... Once the shares were distributed into Trusts A and B, the Trust set forth
how the Trustee was to hold, manage, and distribute the Trust. ...
Elder v. Smith
... Vol.), § 8-104 of the Estates and Trusts Article ("ET"). ... Again, the Estates and Trusts Article
governs such claims, and there is nothing in that Article permitting a creditor with a
pre-death claim to enhance the priority of its claim post-death. ...
Spry v. Gooner
... appellants lacked standing. The basis of the order was that appellants were not
"interested persons" within the meaning of Maryland Code (2001 Repl.Vol., 2008 Supp.),
§ 1-101(i) of the Estates & Trusts Article ("ET"). Ralph Gooner ...
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