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LSDefine

Simple English definitions for legal terms

assets per descent

Read a random definition: Pandering

A quick definition of assets per descent:

Assets are things that someone owns and that have value. They can include things like money, property, equipment, and even goodwill. When someone dies, their assets may be passed down to their heirs, and these assets are called assets by descent. Some assets are easy to turn into cash, like a savings account, while others, like a house, may take more time and effort to sell.

A more thorough explanation:

Definition: Assets per descent refer to the portion of an estate that passes to an heir and is enough to charge the heir with the deceased person's specialty debts.

Examples: When a person dies, their assets are distributed among their heirs. Assets per descent are the assets that are passed down to the heirs and are enough to cover the deceased person's debts. For example, if a person dies and leaves behind a house worth $500,000 and a car worth $20,000, and their debts amount to $200,000, the assets per descent would be $320,000 ($500,000 + $20,000 - $200,000).

Explanation: Assets per descent are the assets that are inherited by the heirs and are enough to cover the deceased person's debts. These assets are distributed among the heirs according to the laws of inheritance. The heirs are responsible for paying off the deceased person's debts using these assets. The example illustrates how assets per descent are calculated by subtracting the deceased person's debts from the total value of the assets that are passed down to the heirs.

assets in hand | asset under management

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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