Marital Portion - Law Dictionary Search Results
Home Dictionary Name: marital portionmarital portion
marital portion in the civil law of Louisiana : a one-fourth portion that a surviving spouse is entitled to claim from the estate of a spouse who has died rich in comparison to the surviving spouse compare disposable portion, falcidian portion, legitime ...
Falcidian portion
Falcidian portion [from Falcidius, Roman tribune who proposed the law passed in 40 B.C. that established the portion] : the one-fourth portion of a succession that may be retained by the instituted heir in civil law if more than three-fourths of the succession was bequeathed to other legatees compare legitime, marital portion NOTE: The Falcidian portion is expressly abolished in the Louisiana Civil Code. ...
legitime
legitime [French, from Latin legitima (pars) the lawful (share)] in the civil law of Louisiana : the portion (as one-fourth) of a testate succession that is reserved for a forced heir called also forced portion compare disposable portion, falcidian portion, marital portion NOTE: The fraction used to calculate the legitime will vary depending on the number of forced heirs. ...
disposable portion
disposable portion in the civil law of Louisiana : the portion of a testate succession that may be donated to legatees other than the forced heir compare marital portion ...
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
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