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Minor's Section 2503(c) Trust
A trust set up for the benefit of a minor according to Section 2503(c) of the Internal Revenue Code, allowing gifts to be made to the trust without incurring gift taxes.
Qualified Terminable Interest Property Trust
A type of trust that allows an individual to transfer assets to a surviving spouse tax-free upon their death, while controlling the distribution of the estate after the spouse's death.
Uniform Probate Code
A set of laws designed to simplify the probate process and standardize the distribution of an individual's estate across the United States.
Executor
A person appointed by a will to manage the estate of the deceased.
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