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LSDefine

Simple English definitions for legal terms

gift in trust

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A quick definition of gift in trust:

A gift in trust is when someone gives something to another person without expecting anything in return. The person who receives the gift is called the trustee and they hold onto the gift for someone else, called the beneficiary. This is often done to protect the gift or to make sure it is used for a specific purpose. For example, a parent might give money to a trustee to hold for their child's education.

A more thorough explanation:

A gift in trust is a voluntary transfer of property to another person without compensation, where the recipient holds the legal title to the property as a trustee for the benefit of a beneficiary. The trustee manages the property and distributes the income or principal to the beneficiary according to the terms of the trust.

For example, a parent may give a gift of money to a child in trust, with the child as the beneficiary and the parent as the trustee. The parent would manage the money and distribute it to the child according to the terms of the trust, such as for education or medical expenses.

Another example is a charitable gift in trust, where a donor gives property to a charity in trust, with the charity as the beneficiary and a trustee managing the property and distributing the income or principal to the charity according to the terms of the trust.

Gifts in trust can be made during the donor's lifetime (inter vivos) or through a will (testamentary). They can also be revocable or irrevocable, depending on the terms of the trust.

gift inter vivos | gift over

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LOL they love our tears
I mean, you got to be a bit of a sadist to be in adcoms lol
JumpySubsequentDolphin
11:09
does WUSTL send emails or call?
JumpySubsequentDolphin
11:09
or both?
11:10
I got a call first
JumpySubsequentDolphin
11:10
I interviewed like two weeks ago, not sure how quick they get back to peeps post interview
JumpySubsequentDolphin
11:10
but my interview was a disaster so not holding onto hope
Late to the party but my name is Paul Leachman in Delray Beach, FL (WashU pls respond)
11:11
Why is it taking so long for WashU to get back to me. Ppl are getting acceptances in a month or less
letsseehowitgoesnow
11:11
...
triplethread
11:11
@BookLover125: RETWEET
triplethread
11:12
is it bad i lied about getting into case western bc my parents are bugging me about my first a
@BookLover125: they are so impressed with your application they are renaming the library after you before admitting you
Do you know not everyone says they were ED?
11:12
No they shouldn’t be bugging you this is stressful enough without them adding More. Do what u gotta do
11:13
Got jokes I see
triplethread
11:13
its sooo stressful and im not even done applying
Just apply and get the A lol
triplethread
11:13
got like 3 more apps
there should be a law school draft akin to the NFL Draft where law schools can recruit us
or a MaxPreps esque high light video where Deans can rank us
1a2b3c4d26z
11:15
In this analogy is the LSAT the NFL combine
JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
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