A person having a duty, created by his undertaking, to act primarily for another's benefit in matters connected with such undertaking.
Guardian
One who legally has the care and management of the person, or the estate, or both, of a child during its minority.
Heir
A person who succeeds, by the rules of law, to an estate in lands, tenements, or hereditaments, upon the death of his ancestor, by descent and right of relationship.
Husband
A married man; one who has a lawful wife living.
Incapacity
The quality or state of being incapable, want of capacity, lack of physical or intellectual power, or of natural or legal qualification; inability incapability, disability, incompetence.
Incapacity is a state where an individual is unable...
Income
The gain derived from capital, from labor or effort, or both combined, including profit or gain through sale or conversion of capital.
Income Beneficiary
The party entitled to income from property.
A typical example would be a trust where A is to receive the income fro life corpus or principal passing to B upon A's death. In this case, A would be the income beneficiary.
Initial Trustee(s)
Usually the initial trustee is the original Creator of the Trust, and as such will have the authority to control and administer all true assets.
Issue
All persons who have descended from a common ancestor. Offspring; progeny; descent; lineage; lineal descendants. In this sense, the word includes not only a child or children, but all other descendants in whatever degree, and it is so construed...
Intervivos Trust
A trust created by an instrument which becomes operative during the settlor's lifetime as contrasted with a testamentary trust which takes effect on the death of the settlor, after passing through probate.