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LSDefine

Simple English definitions for legal terms

modal legacy

Read a random definition: ad ventrem inspiciendum

A quick definition of modal legacy:

Modal Legacy: A type of gift that someone leaves behind in their will, usually in the form of personal property or money. There are different types of modal legacies, such as absolute legacies that are given without any conditions, and conditional legacies that depend on something happening or not happening. A demonstrative legacy is a type of legacy that is paid from a specific source of money, but if there isn't enough money in that source, it can be taken from the person's general assets.

A more thorough explanation:

A modal legacy is a type of gift given through a will, usually in the form of personal property or money. It is similar to a bequest or devise, but with specific conditions attached to it.

  • Absolute Legacy: A legacy given without any conditions and intended to be received immediately.
  • Conditional Legacy: A legacy that will only take effect or be defeated based on the occurrence or non-occurrence of a specific event.
  • Contingent Legacy: A legacy that depends on an uncertain event and has not yet vested. For example, a legacy given to a grandchild "if they attain the age of 21."
  • Demonstrative Legacy: A legacy paid from a specific source, but if that source does not have enough money, the remaining amount is taken from the estate's general assets.
  • Additional Legacy: A second legacy given to a legatee in the same will or codicil as another legacy. It is supplementary and not considered a repeated expression of the same gift.
  • Alternate Legacy: A legacy that allows the legatee to choose one of two or more items.

For example, if a person's will states that their grandchild will receive $10,000 when they turn 25, this is a conditional legacy because it is dependent on the grandchild reaching that age. If the will states that the grandchild will receive $10,000 from the sale of a specific piece of property, this is a demonstrative legacy because it is paid from a specific source.

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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
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
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