Simple English definitions for legal terms
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Trust Legacy: A gift that someone leaves behind in their will, usually money or personal property. It can be given without any conditions or requirements, or it can depend on certain events happening in the future. If the legacy is not paid out yet, it is called an accumulated legacy. If the person receiving the legacy can choose between two or more items, it is called an alternate legacy. If the legacy is paid out from a specific source, it is called a demonstrative legacy.
A trust legacy is a type of legacy that is created through a trust. A legacy is a gift that is given by a person through their will, usually of personal property or money. A trust legacy is a gift that is given through a trust, which is a legal arrangement where a person (the trustor) gives their assets to a trustee to manage for the benefit of another person (the beneficiary).
These examples illustrate how a trust legacy is created through a trust and how the assets in the trust are distributed to the beneficiary as a legacy.