Definite beneficiaries are a requirement of a valid trust, along with settlor capacity and intent, trust property, a valid trust purpose, and duties that the trustee must perform. This means that the identities of the beneficiaries must be...
family law
dependent
Dependent has multiple legal meanings. Generally, “dependent” refers to an individual who relies on support from another individual and usually cannot exist or sustain themselves independently without the aid or support of someone else....
dependents benefits
Dependents benefits are social security proceeds which may be received by those who rely on the primary recipient’s income. Dependents benefits often take the form of survivor benefits, although in some circumstances dependents may receive...
descendant
A descendant is a person born in a direct biological line. For example, a person's children, grandchildren, and great-grandchildren are their descendants. In legal writing, the term "descendant" can have multiple meanings, including those...
devise
Devise refers to a gift given by means of the will of a decedent of an interest in real property.
[Last updated in August of 2022 by the Wex Definitions Team]
devisee
A devisee is a person who receives a gift of some interest in real property from a decedent's will.
[Last updated in August of 2022 by the Wex Definitions Team]
directed trust
Directed trusts are a type of trust that allows the creator of the trust to separate responsibility for the management of some or all of the assets from the trustee. Under common law, the trustee would manage all of the trust assets and...
directive to physicians
A directive to physicians and family (also called living wills, health care directives, and advance directives) are legal mechanisms where an individual can choose to prevent medical personnel from using life sustaining treatments for life-...
disclaimer trust
Disclaimer trust refers to a type of trust used by spouses to limit estate taxes. Spouses can agree to move assets the other spouse will receive upon their death into an irrevocable trust in their wills. This only occurs if the spouse chooses...
discretionary power of appointment
A discretionary power of appointment is distinguished from a mandatory power of appointment in that its exercise is optional. The power is valid so long as there is at least one person who reasonably fits the description of the class whose...