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Funeral trust: A financial vehicle that allows people to pay for anticipated funeral expenses ahead of time. Depending on the terms of the trust and where the money is held, it could also earn ...
A borrowing statute is applied where a plaintiff sues in a state different from the state where the act that is the basis of the lawsuit occurred. [2] For example, if a person is injured in a car accident in state A, that person may sue the at-fault driver in state B (presuming state B has jurisdiction, usually because it is the driver's home ...
The Constitution of Ohio is the foremost source of state law. Laws may be enacted through the initiative process. Legislation is enacted by the Ohio General Assembly, published in the Laws of Ohio, and codified in the Ohio Revised Code.
A Totten trust (also referred to as a "Payable on Death" account) is a form of trust in the United States in which one party (the settlor or "grantor" of the trust) places money in a bank account or security with instructions that upon the settlor's death, whatever is in that account will pass to a named beneficiary. For example, a Totten trust ...
The Ohio Revised Code replaced the Ohio General Code in 1953. [4] However the current organization and form of the Ohio Revised Code Title 29 (Crimes) was completely re-written and issued into law by the General Assembly in 1974.
It is not a pleasant subject or thought to think about, however, it's crucial to prepare for what happens after you die. While you will no longer be living, your family and loved ones are going to...
Personal trust law developed in England at the time of the Crusades, during the 12th and 13th centuries. In medieval English trust law, the settlor was known as the feoffor to uses, while the trustee was known as the feoffee to uses, and the beneficiary was known as the cestui que use, or cestui que trust.
The term "grantor trust" also has a special meaning in tax law. A grantor trust is defined under the Internal Revenue Code as one in which the federal income tax consequences of the trust's investment activities are entirely the responsibility of the grantor or another individual who has unfettered power to take out all the assets. [20]