of Personal Injury Law Terms
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AB Trust: A
revocable trust designed to assure that the personal
estate tax exemption of each spouse is used to maximum
person appointed by the Probate Court to handle the
affairs of the deceased's estate. An administrator is
appointed when the deceased did not leave a will
appointing an executor.
The amount a person may gift each year without the
need to pay a gift or estate tax.
Assets: Items of
value. Assets may be in the form of real property,
personal property, or financial assets.
An individual designated
in a power of attorney document, appointed to act as
the agent of the person who has executed the power of