Section 2503(c) Trust at Law Glossary

What is it? A trust that meets the requirements of Internal Revenue Code Section 2503(c), and so allowing current gift tax exclusions for gifts made to minors that they cannot immediately use. Often used in funding educational expenses.

Legal Definition Added By: Natalie

Send To Friends!

If you'd like to send the Section 2503(c) Trust definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Section 2503(c) Trust. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Law Terms:

Legal Term Equitable Distribution is A legal principle, followed by most states, under which assets and earnings acquired during marriage are divided equitably (fairly) at divorce.

Legal Term Covenant is A formal agreement or a contract constituting an obligation to perform an act

Legal Term Nonpurchaser confusion 1.13 is In trademark law, consumer confusion is the test of whether or not a trademark has been infringed. However, such confusion need not be actual, nor does it need to be confusion of purchasers. Likely confusion of nonpurchasers qualifies as infringement as well. An example of nonpurchaser confusion is where a product bearing the infringing mark is likely to be seen by nonpurchasers, such as when it is engraved on the good itself. The actual purchaser may not be confused by the engraving if the packaging or store display may contain disclaimers. Nonetheless, if the nonpurchaser who has not had the benefit of seeing the disclaimer is likely to be confused, there trademark infringement exists.

Legal Term Decree Absolute is A final certificate, resulting from an application, dissolving a marriage

Legal Term malpractice is A negligant or incompetent on behalf of an individual, usually applied to professionals.