Absolute Beneficiary — A designation of a beneficiary that can not be changed without the written consent of that beneficiary. Also referred to as an irrevocable beneficiary , absolute beneficiaries can also refer to a trust, an employee benefit plan such as a pension … Investment dictionary
No-contest clause — Wills, trusts and estates … Wikipedia
Taxing and Spending Clause — Article I, , Clause 1 of the United States Constitution, is known as the Taxing and Spending Clause. It is the clause that gives the federal government of the United States its power of taxation. Component parts of this clause are known as the… … Wikipedia
spendthrift clause — A provision in a trust that restricts a beneficiary s ability to transfer rights to future payments of income or capital under the trust to a third party. In effect, the clause prevents spendthrift beneficiaries from squandering an inheritance… … Law dictionary
Due-on-sale clause — A due on sale clause is a clause in a loan or promissory note that stipulates that the full balance may be called due upon sale or transfer of ownership of the property used to secure the note. The lender has the right, but not the obligation, to … Wikipedia
no-contest clause — A clause intended to keep a person from doing something or not doing something. In a will, a no contest clause is intended to keep beneficiaries of the will from challenging its terms. Such clauses usually state that if a beneficiary challenges… … Law dictionary
Non-compete clause — Contract law Part … Wikipedia
common disaster clause — In insurance or will, a clause that provides for an alternative beneficiary in event both the insured (testator) and beneficiary (legatee) die in a common disaster. See simultaneous death clause … Black's law dictionary
common disaster clause — In insurance or will, a clause that provides for an alternative beneficiary in event both the insured (testator) and beneficiary (legatee) die in a common disaster. See simultaneous death clause … Black's law dictionary
Arbitration clause — Contract law Part o … Wikipedia
