Examlex
Please define the following key terms. Show Who? What? Where? When? Why Important?
-Amos
Demonstrative Legacy
A gift of a specific amount of money or property to be given to a designated beneficiary from a particular source or asset.
Probate
A legal process through which a deceased person's estate is administered and processed in court to distribute assets to beneficiaries and settle debts.
Resided
Pertains to where an individual or entity is based or located for legal or tax purposes.
Principal
The original sum of money borrowed in a loan or invested, excluding any interest or dividends.
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