These are irrevocable trusts whose purpose is to save on estate tax. During the life of the trust, you may keep income from trust property or use of the property. When the trust ends, the property is distributed to the named final beneficiaries. These are usually created by wealthy people who are not afraid to part with significant assets. Primary trust types include: (i) … [Read more...]
GRAVE
A sepulcher. A place where a dead body is interred. … [Read more...]
GRANTZ
In old English law. Noblemen or grandees. Jacob. … [Read more...]
GRAVEYARD
A cemetery; a place for the interment of dead bodies; sometimes defined in statutes as a place where a minimum number of persons (as "six or more") are buried. See Stockton v. Weber, 98 Cal. 433, 83 Pac 332. Graveyard insurance. A term applied to insurances fraudulently obtained (as. by false personation or other means) on the lives of infants, very aged persons, or those in … [Read more...]
GRAFT
A term used in equity to denote the confirmation, by relation back, of the right of a mortgagee in premises to which, at the making of the mortgage, the mortgagor had only an Imperfect title, but to which the latter has since acquired a good title. … [Read more...]