Tag: death

DefinitionLife insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary...

What is ‘Unbundled Life Insurance Policy' An unbundled life insurance policy is a type of insurance policy and planned financial protection that offers money to...

DefinitionA concurrent estate or co-tenancy is a concept in property law which describes the various ways in which property is owned by more than...

DefinitionWhere two or more persons are liable in respect of the same liability, in most common law legal systems they may either be... Joint...

What is 'Joint Life With Last Survivor Annuity' An insurance product that, when annuitized, makes payments to the annuitant, the annuitant and...

DefinitionJohn Stuart Mill, also known as J.S. Mill, was a British philosopher, political economist, and civil servant. One of the most influential thinkers in...

What is joint ownership of property Joint owned property refers to a situation in which two or more individuals own an asset together. There are...

Qualifying Domestic Trust (QDOT) What is 'Qualifying Domestic Trust - QDOT' A type of trust that allows taxpayers who are not...

DefinitionIn the law of inheritance, a laughing heir is an heir who is legally entitled to inherit the property of a person who has...

What is 'A-B Trust' A trust created by a married couple with the objective of minimizing estate taxes. An A-B trust is...