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Simple English definitions for legal terms

qualified-terminable-interest property

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A quick definition of qualified-terminable-interest property:

A qualified-terminable-interest property is a type of property that is subject to certain conditions and limitations. It is a property interest that is given to someone for a specific period of time or until certain conditions are met. This type of property is often used in estate planning to provide for a surviving spouse while also ensuring that the property eventually goes to other beneficiaries. Essentially, it is a way to control how property is distributed after someone passes away.

A more thorough explanation:

Qualified-terminable-interest property refers to a type of property that allows the owner to transfer it to their spouse after their death, while also specifying who will inherit the property after the spouse's death. This type of property is often used in estate planning to ensure that the owner's assets are distributed according to their wishes.

For example, if a person owns a vacation home and wants to ensure that their spouse can continue to use it after their death, they may designate it as qualified-terminable-interest property. This would allow the spouse to use the property during their lifetime, but also specify who will inherit the property after the spouse's death.

This type of property can be useful in situations where the owner wants to provide for their spouse but also wants to ensure that their children or other heirs receive the property after the spouse's death.

qualified stock option | qualified veto

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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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