A gift or estate tax imposed on a generation-skipping transfer or a generation-skipping trust. — Sometimes shortened to generation-skipping tax; transfer tax. IRC (26 USCA) §§ 2601–2663. See DIRECT SKIP; GENERATION-SKIPPING TRANSFER; generation-skipping trust under TRUST; TAXABLE DISTRIBUTION. [Cases: Internal Revenue 4220–4228. C.J.S. Internal Revenue §§ 576–578.]
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escheat (es-cheet), n. 1. Hist. The reversion of land ownership back to the lord when the immediate tenant dies without heirs. See WRIT OF ESCHEAT. 2. Reversion of property (esp. real property) to the state upon the death of an owner who has neither a will nor any legal heirs. [Cases: Escheat 1–8. C.J.S. Escheat
escrow (es-kroh), n. 1. A legal document or property delivered by a promisor to a third party to be held by the third party for a given amount of time or until the occurrence of a condition, at which time the third party is to hand over the document or property to the promisee (the
probate code. A collection of statutes setting forth the law (substantive and procedural) of decedents’ estates and trusts. [Cases: Wills 204. C.J.S. Wills §§ 446, 469.]
cestui que vie (set-ee [orses-twee] kee [or k[schwa]] vee). The person whose life measures the duration of a trust, gift, estate, or insurance contract. Cf. MEASURING LIFE. [Cases: Life Estates 1. C.J.S. Estates §§ 28–29, 31, 34.] “[L]et us assume that A instead transfers ‘to E for the life of A.’ Since A has used
An inter vivos or testamentary donation to a nonprofit organization for the relief of poverty, the advancement of education, the advancement of religion, the promotion of health, governmental, or municipal purposes, and other purposes the accomplishment of which is beneficial to the community. Restatement (Second) of Trusts § 368 (1959). • When the beneficiary is
future interest. A property interest in which the privilege of possession or of other enjoyment is future and not present. • A future interest can exist in either the grantor (as with a reversion) or the grantee (as with a remainder or executory interest). Today, most future interests are equitable interests in stocks and debt
corpus (kor-p[schwa]s), n. [Latin “body”] 1. The property for which a trustee is responsible; the trust principal. — Also termed res; trust estate; trust fund; trust property; trust res; trust. [Cases: Trusts 1. C.J.S. Trover and Conversion §§ 1–9, 14–18.] 2. PRINCIPAL(4). Pl. corpora (kor-p[schwa]-r[schwa]), corpuses (kor-p[schwa]-s[schwa]z).
kin n. 家属；亲属 尤指血亲，包括半血亲〔half-blood〕。它可以分为直系亲属〔lineal or direct line〕和旁系亲属〔collateral or indirect line〕两类。以动产分配为目的的亲属代位继承权〔right of representation〕的权利人在直系亲属上可超过相同祖先的曾孙辈；在旁系亲属上则不超过兄弟姐妹的子女；但是依照英国1925年《遗产管理法》〔Administration of Estate Act〕，在除父母及祖父母辈以外的无遗嘱死亡时的法定信托〔statutory trust〕中，这种代位继承权可授予任何有权继承者的后代。有时该词所指的亲属也包括姻亲在内。该词亦作「kindred」。