The Law Dictionary

GENERATION-SKIPPING TRUST

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

A trust designed to save on estate tax by passing the money through levels of family's descendants. The principal of the trust goes solely to the grandchildren as beneficiaries. The children receive only trust income. As a result, the children (second generation) never legally own the property (or corpus) of the trust and thus it isn't taxable to them and their estate at their … [Read more...]

GENUS

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

In the civil law. A general class or division, comprising several species. In toto jure generi per speciem derogatur, et illud potis8imum habetur quod ad speciem directum est, throughout the law, the species takes from the genus, and that is most particularly regarded which refers to the species. A man's lineage, or direct descendants. In logic, it is the first of the … [Read more...]

GEORGIA

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

The name of one of the original states of the United States of America. … [Read more...]

GENERIC

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Not specific, typically used in trademark law; see Generic Mark. That which is general and doesn't specifically identify something. … [Read more...]

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