Glossary
The Meaning Legalese.
The words and phrases that lawyers use are so different from normal language that they have their own name: “legalese.” Legalese is complicated. Lawyers have their own dictionaries. Even lawyers don’t always understand each other. That is why there are courts. Even courts disagree with each other. This “Glossary” is my attempt to make the meaning of some of these words more clear. It contains important legal and practical terms used in Dynasty Estate Planning, Asset Protection, Charitable Planning, Business structures, Tax Planning, and related documents.
Disclaimer.
The definitions in this Glossary are provided for educational and illustration purposes only, and may not be relied upon as legal advice. The meanings of words may be applied differently by other practitioners, in different jurisdictions, and/or in alternative contexts. Consult with qualified legal counsel for all legal questions and issues.
- 403(b) Plan
- Agent
- Asset Protection
- Asset Protection Trust
- Beneficiary
- Beneficiary Deed
- Charitable Remainder Trust
- Donor Advised Fund
- Durable General Power of Attorney
- Dynasty Estate Planning
- Dynasty Planning
- Dynasty Trust
- Executor
- Family Foundation
- Fiduciary
- Grantor
- Health Care Proxy
- ILIT
- Integrity Agreement
- Inter Vivos Trust
- IRA
- Irrevocable Life Insurance Trust
- Jurisdiction
- Last Will and Testament
- Living Trust
- Living Will
- Medical Directive
- Per Capita
- Personal Representative
- Per Stirpes
- Probate
- Qualified Distribution
- Qualified Plan
- Records Location Worksheet
- Registered Agent
- Required Minimum Distribution
- Retirement Asset
- Right of Representation
- RMD
- Roth IRA
- Rule Against Perpetuities
- Self Settled Trust
- Spendthrift Clause
- Statutory Agent
- Testamentary Trust
- Trust
- Trustee
- Trust Protector
- Unrelated Business Income