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A trust instrument where trust income accumulates and is not paid to beneficiaries until specified conditions have been met. By way of example, a grandfather creates an accumulation trust for a grandson where the grandson will only receive the proceeds of the trust upon receiving a college degree. The grandson is the beneficiary of an accumulation trust. … [Read more...] about ACCUMULATION TRUST

The father of a child on the record, also responsible for child support. The biological father of a child who is born to an unmarried couple and is established as the father either by admission or per agreement with the child's mother. … [Read more...] about ACKNOWLEDGED FATHER

In contracts. A written discharge, whereby one is freed from an obligation to pay money or perform a duty. It differs from a release in not requiring to be under seal. This word, though perhaps not strictly speaking synonymous with "receipt," includes it. A receipt is one form of an acquittance; a discharge is another. A receipt in full is an acquittance, and a receipt for a … [Read more...] about ACQUITTANCE

When an executor or other trustee masses the rents, dividends, and other income which he receives, treats it as a capital, invests it, makes a new capital of the income derived therefrom, invests that, and so on, he is said to accumulate the fund, and the capital and accrued income thus procured constitute accumulations. Hussey v. Sargent, 116 Ky. 53, 75 S. W. 211; In re … [Read more...] about ACCUMULATIONS

In conveyancing. The act by which a party who has executed an instrument of conveyance as grantor goes before a competent officer or court, and declares, or acknowledges the same as his genuine and voluntary act and deed. The certificate of the officer on such instrument that it has been so acknowledged. Rogers v. Pell, 154 N. Y. 518, 49 N. E. 75; Strong v. United States (D. … [Read more...] about ACKNOWLEDGMENT