Glossary Archive

Overview Post-Mortem Estate Planning refers to the strategies and actions taken after an individual's death to manage and settle their estate effectively. This process is crucial for ensuring that the deceased's wishes, as expressed in their will or other estate planning documents, are honored while minimizing legal complications and tax liabilities for the heirs. Detailed...

A Posthumous Child Clause is a provision included in a will or trust that specifically addresses the inheritance rights of children conceived but not yet born at the time of the testator's death. This clause ensures that if the testator has a child after their death, that child will still be entitled to inherit from...

Overview A Pour-Over Allocation refers to a provision in a will or trust that directs any remaining assets not specifically disposed of by the will to be transferred into an existing trust upon the individual's death. This mechanism ensures that all assets are managed according to the terms of the trust, providing a seamless integration...

Pour-Over Assets Pour-over assets refer to property or assets that are transferred into a trust upon the death of the trustor (the person who created the trust). This mechanism is commonly utilized in estate planning to ensure that all assets are properly managed and distributed according to the terms of the trust. In a typical...

A Pour-Over Clause is a provision commonly found in a will that directs assets not specifically mentioned in the will to be transferred into a trust upon the individual's death. This clause ensures that any assets acquired or not explicitly dealt with in the will are poured over into an existing trust, which is usually...

A Pour-Over Trust is a type of trust that is created to receive assets from a will upon the death of the individual who established the trust, known as the grantor. This legal arrangement ensures that any assets not specifically titled in the trust during the grantor's lifetime will "pour over" into the trust upon...

A Pour-Over Will is a specific type of will that is designed to work in conjunction with a living trust. It functions to "pour over" any assets that are not already placed into the trust at the time of the individual's death.   This will typically contains provisions stating that any assets not specifically dealt...

Power Imbalances in Mediation Power imbalances in mediation refer to the unequal distribution of influence, authority, or resources between the parties involved in a mediation process. Such imbalances can significantly affect the dynamics of the negotiation, the willingness of parties to communicate openly, and the ultimate outcome of the mediation. Power imbalances may arise from...

General Overview A Power of Appointment is a legal authority granted to an individual (often referred to as the "holder") to determine how certain property or interests will be distributed among specified beneficiaries. This mechanism is commonly used in estate planning to provide flexibility in the distribution of assets, allowing the holder to make decisions...

Power of Attorney A Power of Attorney (POA) is a legal document that grants one person (the agent or attorney-in-fact) the authority to act on behalf of another person (the principal) in specified matters. This can include financial, legal, and medical decisions, depending on the type of POA established. There are several types of Power...