Glossary Group: P

Per Stirpes

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

Personal Representative

See Executor.

Pour Over Will

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

Power of Appointment

A power that gives an individual the right to transfer...

Power of Attorney

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

Principal

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

Probate

Probate is a court supervised process wherein the executor or...

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...