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1. “Power of _____ “: right given in a will or trust by donor allowing another person (donee) to name the recipient of the donor’s property at a future time |
2. gross estate less debts and expenses and reduced by the marital deduction and charitable deductions
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4. estate shrinkage that occurs when the decedent’s executor must sell assets to make up for a cash deficiency, as in “forced _______” |
3. interest or estate that will last for the life of the beneficiary alone or for the life of or lives of some person or persons other than the beneficiary |
6. amendment or supplement to a will, which must be executed with the formalities of a will |
5. status of a deceased who died without having made a valid will, as "She died ______." |
8. property that can be passed under the terms of a will (if no will, it passes under intestacy laws |
7. term describing the principal or trust estate as distinguished from income |
10. trust designed to provide a fixed percentage of the value of trust assets revalued annually, distributed to a non-charitable income beneficiary for lifetime or prescribed period, with the remainder going to charity |
9. testamentary disposition of real or personal property by will |
11. right, titles or interests that a person, living or deceased, has in any property |
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12. trust designed to provide a specific sum certain to be distributed annually to a non-charitable income beneficiary for lifetime or prescribed period, with the remainder going to charity |
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