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Simple English definitions for legal terms

appointive asset

Read a random definition: grandfathered in

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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[M] lilypadfrog
15:57
@llama: if you insist
Trismegistus
15:57
STILL NOTHING?
Trismegistus
15:57
for me
RightPlant
15:57
anything from nyu?
Trismegistus
15:57
penn r people was it in portal under status or?
GreyCeaselessMammoth
15:58
i just got an email
15:58
guysss like my status :P
15:59
where is evol bunny
Trismegistus
15:59
wbu eggan where was yours email or status checker
15:59
thanks everyone i feel swagalicious now
15:59
email
Trismegistus
15:59
ah
Trismegistus
15:59
sorry guys :/
16:00
[deleted by lilypadfrog]
16:00
Reach out if you feel like you need to vent
16:00
brutha
16:00
Shit
16:00
Sorry
16:00
Thank you Lilypad
16:00
its ok at least dk or evil bunny didnt see
16:00
whoopsie teehee
starfishies
16:01
whenever my stat twin takes a hit i feel it too
lilypadfrog
16:01
be careful you guys!! I’m not always here
16:01
thanks starfishies
starfishies
16:02
oh yeah u too eggan
starfishies
16:02
i was looking at my homie bitterbutter though haha
16:02
should i drop my social #?
starfishies
16:02
last 4 digits at least
16:03
I bet no one will even do anything, just like the CEO of lifelock did
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