Archives: Glossary Terms

Advanced Directive

An Advanced Directive refers to the necessary documents ... Read more…

Qualified Personal Residence Trust

An irrevocable trust (referred to as a “QPRT”) established to hold title to a person’s home... Read more…

Will

See Last Will & Testament. Read more…

Virtual Representation

Many modern trust laws include provisions to allow competent adults to speak... Read more…

Uniform Transfers to Minors Act (UTMA)

Transfers to minors can pose significant challenges... Read more…

Trustee

In its broadest sense, the term trustee can refer to any person... Read more…

Trust Instrument

A document that creates a trust and sets out the terms under which... Read more…

Trust

An entity created to hold assets for the benefit of certain... Read more…

Transfer on Death Designation

A beneficiary designation for property that allows for the automatic transfer... Read more…

Testator

A testator is a person who has written and executed... Read more…