Glossary Archive

Goodwill Valuation Goodwill valuation refers to the process of assessing the intangible assets of a business that contribute to its overall value, beyond the physical assets and liabilities. Goodwill is typically associated with the reputation, customer relationships, brand recognition, and other non-quantifiable factors that can enhance a company's profitability. In the context of business transactions,...

Government ADR Programs Government Alternative Dispute Resolution (ADR) Programs are processes established by governmental entities to resolve disputes outside of the traditional court system. These programs aim to provide a more efficient, cost-effective, and less adversarial means of addressing conflicts. Government ADR Programs typically include methods such as mediation, arbitration, and negotiation. Mediation involves a...

Government-Mandated ADR Programs Government-mandated Alternative Dispute Resolution (ADR) Programs are initiatives established by governmental bodies to encourage or require the use of non-adversarial methods for resolving disputes outside of traditional court proceedings. These programs aim to alleviate court congestion, expedite the resolution process, and reduce costs for all parties involved. Typically, these programs include mediation,...

Graduated Lease Agreement A Graduated Lease Agreement is a type of lease contract in which the rental payments increase at predetermined intervals over the term of the lease. This agreement outlines specific dates when the rent will rise and by how much, allowing both the landlord and tenant to plan for future financial obligations. Typically,...

Grant Deed A grant deed is a legal document used to transfer ownership of real property from one party to another. It is a type of deed that includes specific assurances regarding the title to the property being conveyed. In a grant deed, the grantor (the seller or current owner) guarantees that they hold good...

Grant of Easement for Utilities A Grant of Easement for Utilities is a legal document that allows utility companies the right to access a property to install, maintain, or repair utility lines such as water, sewage, electricity, gas, or telecommunications. This easement does not transfer ownership of the property but grants specific rights to the...

A Grantor-Controlled Trust is a type of trust in which the grantor (the person who creates the trust) retains significant control over the assets and management of the trust. This control can include the authority to manage investments, distribute income, or even revoke the trust entirely. In a Grantor-Controlled Trust, the grantor typically serves as...

The Grantor (or Settlor) is an individual who creates a trust by transferring assets into it and establishing the terms under which the trust will operate. This person is fundamental to the trust's existence and is responsible for outlining the rules and intentions behind the trust arrangement. In a more detailed context, the Grantor typically...

A Grantor Retained Annuity Trust (GRAT) is an estate planning tool designed to minimize gift and estate taxes while allowing the grantor to retain an income stream from the trust's assets for a specified period. In a GRAT, the grantor transfers assets into the trust and retains the right to receive annuity payments for a...

A Grantor Retained Income Trust (GRIT) is an estate planning tool that allows a grantor, or creator, to transfer assets into a trust while retaining the right to receive income generated by those assets for a specified period. The primary purpose of a GRIT is to minimize estate taxes and facilitate the transfer of wealth...