Archives: Glossary Terms
Fiduciary
Any individual or entity required to act for the benefit...
Gift Tax
A federal tax imposed on the transfer of property from one individual...
Grantor
Generally, any person who transfers property to another individual or...
Grantor Trust
A trust over which the grantor (the individual transferring property to the trust) retains...
Gross Estate
A federal estate tax concept that includes the total dollar...
Guardian
An individual or bank or trust company appointed by the probate court...
Health Care Power of Attorney
A document that appoints an individual (an “agent”) to make health care decisions...
Heir
An individual entitled to a distribution of an asset or...
Income
The earnings from principal, such as interest, rental payments, dividends...
Interest of a Beneficiary
The right to receive income or principal provided in the terms...