Glossary Group: P

Prudent Investor Act

A state law that sets the standard of fiduciary duty…

Prudent Man Rule

A fundamental legal maxim restricting the discretion of a trustee…

Property

Anything that is owned by an individual or entity that…

Probate Tax

A tax imposed by some jurisdictions on any property transferred…

Probate

Probate is a court supervised process wherein the executor or…

Principal

Principal is the property (such as money, stock, or real estate) owned…

Power of Attorney

A power of attorney is a written document granting an individual…

Power of Appointment

A power that gives an individual the right to transfer…

Pour Over Will

A pour over will is a last will and testament which transfers…

Per Stirpes

A method for distributing property where each branch of the named person’s…