Testamentary is of or relating to a will or testament. The term is often used to denote that something was provided for, appointed by or created by a will.
See: testamentary capacity, testamentary power of appointment,...
money and financial problems
title search
A title search is a search of the public records for any defects or encumbrances in a property's chain of title. Title searches are needed so that prospective buyers and secured creditors are not later surprised by ownership disputes that...
tontine
Tontine is an investment plan in which participants buy shares in a common fund and receive an annuity that increases every time a participant dies.
In simpler terms, tontine is an investment scheme in which the so-called...
trust intent
Trust intent refers to the specific intention or purpose behind the creation of a trust by the settlor (the person who establishes the trust). This intent determines how the trust’s assets are to be managed, distributed, and used for the...
underwriting
Underwriting is the act of assuming a risk by insuring it, such as insuring life or property, or by agreeing to buy all or part of a new issuance of securities to be offered for public offering. It involves a financial institution (like a...
unearned income
Unearned income is money received from sources other than employment or business activities, such as interest, dividends, capital gains, or any income not directly tied to work efforts.
[Last updated in July of 2024 by the...
variable annuity
A variable annuity is an annuity — periodic payments to a recipient — that vary in amount based on the performance of the underlying investments. Variable annuities are tax-deferred and a person does not have to pay any taxes on the income or...
Volcker Rule
The Volcker Rule refers to a broad set of rules adopted under Dodd-Frank Title VI that attempts to reduce risk within banking institutions, stemming from mixing investment banking and commercial banking. The Volcker Rule consists of two major...
wage attachment
Wage attachment, also known as wage garnishment, is a court order by which the court attaches debtors' wages to help pay their creditors by directly transferring the wages to the creditors. Although a wage attachment order can be obtained...
warehouseman's lien
A warehouseman’s lien is a legal right granted to a storage facility or warehouse operator, allowing them to retain possession of goods stored on their premises until outstanding charges or debts for storage, handling, or related services are...