Legal definition of last will and testament
Living Trusts Legal Terminology

last will and testament

1
Also known as a will.
A legally enforceable declaration directing the disposal of a decedent's property. See also: will.
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Harvey C KochAttorney at LawPRACTICE AREA: Tax Law, Bankruptcy Law, Business Law, Environmental Law, Litigation, Sports Law
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Sun SentinelQ: I have been living with my girlfriend in her condo for the past 15 years. She has stated in her living trust and will that I can continue to live in the condo after she dies, and then it would belong to her son. Now she has changed her mind because ... more »
fox2now.comST. LOUIS--When it comes to money, many people are familiar with the term 'trust,' but may not be aware of the difference between a revocable and an irrevocable trust, especially when it comes to tax planning. Sandy Furuya, Senior Accounting Manager at ... more »
Kiplinger Personal FinanceThis is different from a “revocable” or “living” trust, which can be revoked at any time for any reason. With revocable trusts, the grantor is always the taxpayer. An irrevocable trust, on the other hand, can be treated as either a grantor trust or a ... more »
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