A trust which creates a life estate for a beneficiary with the trust principal going to a final beneficiary when the life beneficiary dies. For example, money may be left…

A guarantee of payment. Generally, in estate planning, this is a document which guarantees payment in the event that a person responsible for money or property distribution does not act…

The gift made to a beneficiary, an older term describing the gift made through a will provision leaving property to a person.

Person or legal entity which receives gifts of bequests made under a will, trust, retirement plan, insurance policy, etc.

A tax term which refers to the value of property for the purposes of determining whether or not a profit or loss has been realized upon sale or transfer. For…