testament

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Related to testamentary: testamentary trust, Testamentary capacity, Testamentary disposition

testament

Originally, an instrument that provided for the disposition of personal property after death.Today,it is simply another word for a will,as in “last will and testament.”

References in periodicals archive ?
11 (10/24/06), the Tax Court held that the exercise of a testamentary general power of appointment (GPA) by a decedent in favor of her grandchildren was subject to generation-skipping transfer tax (GSTT).
Prior cases evaluating testamentary devices have considered the following factors: the health or age of decedent on entering into the agreement; the lack of regular enforcement of the agreement; the exclusion of significant assets from the agreement; the arbitrary manner in which the price was set; the lack of negotiations among the parties; whether the agreement allowed adjustments or revaluation; whether all parties were bound by the agreement; and other evidence of a testamentary plan.
Testamentary capacity is generally presumed upon proof that the will was duly executed with the requisite formalities after having been read over to or by a testator who appeared to understand it.
According to her will, all of her property was transferred to a testamentary trust, the income from which is paid annually to Mr.
These statutes are versions of the Uniform Testamentary Additions to Trusts Act and provide that a trust can be amended after a pour-over will is executed.
Those services include living, testamentary and charitable trusts and executor services.
As long as the museum complies with the agreement, the donors cannot make lifetime or testamentary transfers of their art to a third party; transfers can only be made to each other or to the museum.
2036(a) is one of several Code provisions intended to prevent parties from avoiding the estate tax by means of testamentary substitutes that permit a transferor to retain lifetime enjoyment of purportedly transferred property.
duPont Testamentary Trust (the Trust), announced today the underwritten offering of 7.
Virtually all common law states provide a statutory right to a surviving spouse, allowing him or her to elect to receive a statutory portion of the probate estate of u deceased spouse in lieu of amounts bequeathed to the survivor under the decedent's testamentary plan.