Posts Categorized: Legal Word of the Day

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Legal Word of the Day: Lapse (and Anti-Lapse)

Ch-ch-ch-ch-changes A will may provide for disposition of the testator’s assets at the time the will is executed, but of course it may be many years—many decades, even—between the will’s execution and the testator’s death. What if between the execution of the will and the testator’s death, there are changes in circumstances (such as the… Read more »

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(Legal) Word of the Day: Property

Three Parties I’ve previously written about the three parties necessary for every trust: (1) the settlor (sometimes called the donor or grantor); (2) the trustee; and (3) the beneficiary. Two Other Elements Besides three parties, at least two other elements are necessary for a valid trust. The trust instrument is the document that sets forth… Read more »

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(Legal) Word of the Day: Settlor (AKA Donor or Grantor)

Settlor (or Donor or Grantor) The person who creates a trust is called the settlor (sometimes called the donor or grantor). It is the settlor’s intent which is of paramount importance. It is the intent of the settlor that determines whether a trust has been created. Here’s a great read with a rundown on the… Read more »