An attestation clause is a provision at the end of an instrument, especially a will, that is signed by witnesses and recites the formalities required to make the instrument effective. A formal attestation clause itself can serve as prima...
financial events
attorney in fact
An attorney in fact is an agent authorized to act on behalf of another person, but not necessarily authorized to practice law, e.g. a person authorized to act by a power of attorney. Therefore an attorney in fact, which is not necessarily a...
attorney's lien
An attorney’s lien is the right of a lawyer to hold a client's property until the client pays for legal services provided. The property may include business files, official documents, and money awarded by a court. The right to an attorney's...
attorney-in-fact
An attorney in fact is an agent authorized to act on behalf of another person, but not necessarily authorized to practice law, e.g. a person authorized to act by a power of attorney. Therefore an attorney in fact, which is not necessarily a...
augmented estate
The augmented estate is the value of a decedent’s estate used when the surviving spouse chooses to take an elective share, rather than what was left by will. The Uniform Probate Code calculates the augmented estate as all real and personal...
automatic stay
Automatic stay is defined in two parts:
The “automatic” is in reference to the injunction that would prohibit most creditor collection activities, after the debtor has filed for bankruptcy. The “stay” begins at the moment the...autopsy rights
Autopsy rights are those given to the deceased and the next of kin to determine whether and to what extent autopsies should be performed. Typically, the individual (prior to death) and next of kin get to decide whether an autopsy is performed...
bailout
A bailout is when the government gives financial support to rescue a company that is in financial trouble and possibly at risk for bankruptcy. The bailout enables the survival of the company. The need for a bailout often arises out of a financial...
balloon mortgage
A balloon mortgage is a mortgage where the payments are not large enough to pay off the entire mortgage during its amortization period. Thus, the borrower must make an extra-large payment at the end of the amortization period to fully pay off...
balloon payment
Balloon payments refer to very large payments at the end of some short-term loans called balloon loans. Balloon loans are used in commercial settings and sometimes for personal loans, but since the balloon payment often is more than twice the...