Examlex
A day of the year when the length of the night is equal to the length of the day is known as a(n)________.
Rule Against Perpetuities
A legal principle that restricts the ability to control property through a will or trust indefinitely, ensuring that property is not tied up for generations beyond the lives of people living at the time the will or trust is created.
Charitable Trust
A trust established for charitable purposes, benefiting the public or a segment of it, and possessing special tax considerations.
Testamentary Trust
A trust that is created according to the instructions left in a deceased person's will and goes into effect upon their death.
Died Intestate
The situation where a person passes away without having made a legal will.
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