Glossary Archive

A Charitable Lead Annuity Trust (CLAT) is a type of irrevocable trust designed to provide financial support to a charitable organization for a specified period while ultimately transferring the remaining assets to non-charitable beneficiaries, such as family members. In a CLAT, the grantor contributes assets to the trust, and the trust pays a fixed annuity...

A Charitable Lead Trust (CLT) is a type of irrevocable trust designed to benefit a charitable organization for a specified period, with the remaining assets eventually going to non-charitable beneficiaries, typically family members or heirs. In a CLT, the trustmaker (grantor) donates assets to the trust, which then pays a fixed amount or a percentage...

A Charitable Remainder Trust (CRT) is a specific type of trust designed to provide income to a beneficiary while ultimately distributing the remaining assets to a designated charity upon the beneficiary's death or the expiration of the trust term. The CRT operates in two main phases: the income phase and the remainder phase. During the...

A Charitable Remainder Unitrust (CRUT) is a type of irrevocable trust designed to provide income to the beneficiary while ultimately benefiting a charitable organization. This financial vehicle combines elements of estate planning and philanthropy, allowing individuals to donate assets to charity while receiving a stream of income during their lifetime or for a specified term....

A charitable trust is a legal arrangement that allows a donor to allocate assets to a trust for charitable purposes, benefiting a specific cause, organization, or the public at large. This type of trust is established to achieve philanthropic goals while providing certain tax advantages. There are primarily two types of charitable trusts: charitable remainder...

A Charitable Trust Remainder Unitrust (CRUT) is a specific type of charitable remainder trust that provides income to the non-charitable beneficiary for a specified period or until their death, after which the remaining assets go to a designated charity. This structure allows the donor to receive a charitable deduction while also providing income during their...

Chattel Mortgage A chattel mortgage is a type of loan agreement where personal property is used as collateral to secure a loan. Unlike real estate mortgages, which involve immovable property such as land or buildings, a chattel mortgage pertains to movable assets, often referred to as "chattels." These can include vehicles, equipment, machinery, furniture, and...

Child Custody Mediation Agreements A Child Custody Mediation Agreement is a legally binding document that outlines the terms of custody and visitation arrangements between parents following a separation or divorce. This agreement is typically reached through the process of mediation, where both parents work collaboratively with a neutral third-party mediator to negotiate and resolve their...

Civil Trespass Claim A Civil Trespass Claim is a legal action initiated by a property owner against an individual who has unlawfully entered or remained on their property without permission. This claim falls under tort law and is often pursued to seek remedies for the unauthorized use of the property. In a Civil Trespass Claim,...

Claim Construction Hearing A Claim Construction Hearing is a legal proceeding in patent law where a judge interprets the meaning and scope of the claims in a patent. This hearing is critical because the interpretation of patent claims determines the extent of protection afforded to the patent holder and can significantly influence the outcome of...