ESTATE PLANNING LAW GLOSSARY
Glossary of Estate Planning Law Terms
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Click on the first letter of the word
from the list above to go to the appropriate section of
the glossary.
- A -
AB Trust: A trust designed to assure that the personal
estate tax exemption of each spouse is used correctly. The surviving
spouse should have access to the assets of the deceased spouse
during the remainder of the surviving spouse's lifetime.
Administrator: A person appointed to handle the affairs of
the deceased.
Annual exclusion: An exclusion allowing a person to give
away a certain amount each year as a “gift” without paying gift
taxes.
Assets: Items of value.
Attorney-in-Fact: An individual designated in a power of
attorney document, to act as the agent of the person who has
executed the document.
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