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Simple English definitions for legal terms

appointive asset

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A quick definition of appointive asset:

An appointive asset is something that someone can give to someone else through a special power. It's like a present that someone can choose to give to a specific person. Assets are things that people own and have value, like money, property, or equipment. They can be used to pay debts or given to others as gifts. Some assets are easy to turn into cash, while others are harder to sell or use right away.

A more thorough explanation:

Definition: An appointive asset is an item that is owned and has value. It can be anything from cash, inventory, equipment, real estate, accounts receivable, and goodwill. It is an asset distributed under a power of appointment.

Examples: A person may have an appointive asset in the form of a trust fund. The trustee has the power to distribute the assets to the beneficiaries according to the terms of the trust. Another example is a will, where the testator appoints an executor to distribute the assets to the beneficiaries.

Explanation: An appointive asset is a type of asset that is distributed under a power of appointment. It is different from other types of assets because it is not owned outright by the beneficiary. Instead, the beneficiary has the right to receive the asset at the discretion of the trustee or executor. This type of asset is often used in estate planning to provide flexibility in the distribution of assets.

appointee | appointive property

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Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
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