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Simple English definitions for legal terms

accumulations, rule against

Read a random definition: judgment as a matter of law

A quick definition of accumulations, rule against:

The rule against accumulations states that if someone wants to save the income from their property to distribute it to certain people later, they can only do so within a certain time limit. This time limit is called the perpetuity period. If the accumulation of income goes beyond this period, it is not allowed.

A more thorough explanation:

Definition: The rule that states a direction to accumulate income from property, with the intention of distributing it later to certain beneficiaries, is only valid if it is limited to the perpetuity period. This rule is also known as the rule against accumulations.

Example: A wealthy individual leaves a will that directs their estate to accumulate all income from their properties for the next 50 years, with the intention of distributing it to their grandchildren after that time. However, the rule against accumulations states that this direction is only valid if it is limited to the perpetuity period, which is typically 21 years after the death of the last living beneficiary. Therefore, the direction to accumulate income for 50 years would be invalid.

Explanation: This example illustrates how the rule against accumulations limits the amount of time that income can be accumulated for future distribution. In this case, the direction to accumulate income for 50 years exceeds the perpetuity period, making it invalid. The rule against accumulations is in place to prevent property from being tied up for too long and to ensure that beneficiaries receive their rightful share in a timely manner.

accumulation | accumulative

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CynicalOops
17:14
Presents
CynicalOops
17:14
Im just gonna get everyone tickets so thats why i said that
jackfrost11770
17:14
people are so stupid on the internet its crazy
CynicalOops
17:15
T5 soft
windyMagician
17:18
that and the post asking for low gpa success stories along with every other identifying detail
i should be a vtuber so i can finally realize my dream of becoming an anime girl
17:23
@CynicalOops: tickets to what?
CynicalOops
17:26
I got my brother tickets to a golf tournament and im going to get my mom ski lift tickets because she just moved near a ski resort
Dkk
18:08
Nice, I am on bad terms with my siblings so i am getting them nothing and they should get me nothing too and I am getting my mom a gift.
18:16
I just noticed that UMich has the majority of their acceptances really early on. Does anyone know what happens to mid-November applicants? Are we just cooked?
TGM
18:23
How long can I delay sending my fall grades if they hurt my GPA? I’m still waiting on decisions and ideally I’m hoping they decide BEFORE seeing my new grades
TGM
18:27
dropped my GPA below median for a couple of schools I’m applying to, when I was above median before
Dkk
18:32
@TGM: Not long enough to get another transcript to recover.
Dkk
18:33
Honestly you could just wait until someone actually asks for your fall grades. Who knows.
Dkk
18:34
@wigwav: It looks like if below medians it will not help but If applying in November it seems you are still middle of the cycle.
18:34
@wigwav: nah
TGM
18:34
like am I expected to send it unprompted or can I wait until a school requested it
Dkk
18:35
@TGM: Expected to send it unprompted but you can wait and see.
18:36
Is your LSAT also below median?
TGM
18:37
It’s above median, but I’m applying T6 with unimpressive softs, so even with a good LSAT it’s tough
texaslawhopefully
18:38
Yeah, then I would just wait as long as you can to send it
texaslawhopefully
18:38
For like HLS at least, if you wait till J6 then you may already have a decision
TGM
18:39
@texaslawhopefully: alas, haven’t even gotten an interview (applied around thanksgiving)
18:39
Yeah I would delay as long as you have plausible deniability
TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
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