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Incentive Trust
In American estate planning parlance, an incentive trust is a trust designed to encourage or discourage certain behaviors by using distributions of trust income or principal as an incentive. A typical incentive trust might encourage a beneficiary to complete a degree, enter a profession, or abstain from harmful conduct such as substance abuse. The beneficiary might be paid a certain amount of money from the trust upon graduating from college, or the trust might pay a dollar of income from the trust for every dollar the beneficiary earns. Although incentive trusts have apparently become more common in the early 21st century, a 2007 survey found that less than one-third of wealthy Americans attach conditions to the distribution of their estateAccording to Joshua Tate, an assistant professor at Dedman School of Law, SMU Dedman School of Law, incentive trusts pose a problem of inflexibility: "because the settlor cannot foresee all potential eventualities or circumstances and take th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust Law
A trust is a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another's benefit. In the Anglo-American common law, the party who entrusts the right is known as the "settlor", the party to whom the right is entrusted is known as the "trustee", the party for whose benefit the property is entrusted is known as the " beneficiary", and the entrusted property itself is known as the "corpus" or "trust property". A ''testamentary trust'' is created by a will and arises after the death of the settlor. An ''inter vivos trust'' is created during the settlor's lifetime by a trust instrument. A trust may be revocable or irrevocable; an irrevocable trust can be "broken" (revoked) only by a judicial proceeding. The trustee is the legal owner of the property in trust, as fiduciary for the beneficiary or beneficiaries who is/are the equitable owner(s) of the trust property. Trustees thus have a fiduciary duty to manage th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dedman School Of Law
SMU Dedman School of Law, commonly referred to as SMU Law School or Dedman School of Law is a law school located in Dallas, Texas. It was founded in February 1925. SMU Law School is located on the campus of its parent institution, Southern Methodist University. SMU’s Law School was renamed SMU Dedman School of Law in February 2001 in honor of its late benefactors, Robert H. Dedman Sr. and his wife, Nancy Dedman. SMU Law School was the only law school in Dallas until UNT opened its law school in 2014, and it is one of ten law schools in Texas. The current dean of the law school is Jason P. Nance. Academic profile SMU Dedman School of Law offers Juris Doctor, Master of Laws, and Doctor of Juridical Science degrees. The school offers two joint degree programs, a J.D./M.A. in Economics and a J.D./M.B.A. The J.D./M.A. in Economics is offered in connection with the SMU Department of Economics in Dedman College and the J.D./M.B.A. is offered in connection with the Cox School of Bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Autotelic
An autotelic is someone or something that has a purpose in, and not apart from, itself. Origin The word "autotelic" derives from the Greek ''αὐτοτελής'' (''autotelēs''), formed from ''αὐτός'' (''autos'', "self") and ''τέλος'' (''telos'', "end" or "goal"). The ''Oxford English Dictionary'' cites the word's earliest use in 1901 (Baldwin, ''Dictionary of Philosophy and Psychology'', I 96/1), and also cites a 1932 use by T. S. Eliot . Use Mihaly Csikszentmihalyi describes people who are internally driven, and who as such may exhibit a sense of purpose and curiosity, as autotelic. This is different from being externally driven, in which case things such as comfort, money, power, or fame are the motivating force. Csikszentmihalyi writes:An autotelic person needs few material possessions and little entertainment, comfort, power, or fame because so much of what he or she does is already rewarding. Because such persons experience flow in work, in family life, whe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wills And Trusts
Wills may refer to: * Will (law), a legal document Places Australia * Wills, Queensland, a locality in the Shire of Boulia * Division of Wills, an Australian electoral division in Victoria United States * Wills Township, LaPorte County, Indiana * Wills Township, Guernsey County, Ohio * Wills, Wisconsin, an unincorporated community * Wills Creek (Ohio), a tributary of the Muskingum River * Wills Creek (North Branch Potomac River), in Pennsylvania and Maryland People * Wills (surname), a surname * William, Prince of Wales (born 1982), nicknamed "Wills" Other uses * Wills baronets, of Northmoor, a former title in the Peerage of the United Kingdom - see Baron Dulverton * Wills Hall, a student residence of the University of Bristol * Wills Navy Cut or simply Wills, a popular cigarette brand in India See also * Will (other) Will may refer to: Common meanings * Will and testament, instructions for the disposition of one's property after death * Will (philosophy), or willpo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresence in the sky, but the articulate voice of some sovereign or quasi sovereign that can be identified," ''Southern Pacific Company v. Jensen'', 244 U.S. 205, 222 (1917) (Oliver Wendell Holmes, dissenting). By the early 20th century, legal professionals had come to reject any idea of a higher or natural law, or a law above the law. The law arises through the act of a sovereign, whether that sovereign speaks through a legislature, executive, or judicial officer. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. '' Stare decisis'', the principle that cases should be decided according to consistent principled rules so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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