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LSDefine

Simple English definitions for legal terms

appointive asset

Read a random definition: bilateral divorce

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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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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