Examlex
A universal obligation is an obligation that everyone has, regardless of the social roles they occupy.
Totten Trust
is a type of revocable trust created by depositing funds into a bank account with a designated beneficiary upon the account holder's death.
Settlor
The person who creates a trust by transferring assets into the trust for the benefit of the trust's beneficiaries.
Joint Bank Account
A bank account held by two or more individuals, where each account holder has equal access and rights to the funds.
Remaindermen
Individuals who have a future interest in property after the end of a life estate or other particular interest.
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