Glossary of Personal Injury Law Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z #

- L -

Lateral succession: Succession in property ownership in which the property is transferred between members of the same generation.

Letters of Authority: A document issued by the probate court which formally appoints the administrator or executor and gives him the authority to administer the estate.

Liabilities: The amounts owed to another by any person, family, or business (i.e. a mortgage). 

Living trust: A trust established during the lifetime of the grantor which is usually a revocable trust.