ESTATE (Greece) Flashcards
WIKI LINKS
WIKI LINKS
https: //en.wikipedia.org/wiki/English_trust_law
https: //en.wikipedia.org/wiki/Equity_(law)
https: //en.wikipedia.org/wiki/Equitable_remedy
https: //en.wikipedia.org/wiki/Legal_remedy
https: //en.wikipedia.org/wiki/Court_of_equity
https: //en.wikipedia.org/wiki/Court_of_Chancery
https: //en.wikipedia.org/wiki/Estate_(law)
https: //en.wikipedia.org/wiki/Legal_maxim
https: //en.wikipedia.org/wiki/Bundle_of_rights
https: //en.wikipedia.org/wiki/Property_law
https: //en.wikipedia.org/wiki/Title_(property)
https: //en.wikipedia.org/wiki/English_tort_law
https: //en.wikipedia.org/wiki/Bankruptcy_in_the_United_States
https: //en.wikipedia.org/wiki/Contract
https: //en.wikipedia.org/wiki/Laches_(equity)
https: //en.wikipedia.org/wiki/Estoppel
https: //en.wikipedia.org/wiki/Set-off_(law)
https: //en.wikipedia.org/wiki/Doctrine_of_marshalling
https: //en.wikipedia.org/wiki/Unconscionability
https: //en.wikipedia.org/wiki/Hotchpot
https: //en.wikipedia.org/wiki/Equitable_conversion
https: //en.wikipedia.org/wiki/Tracing_(law)
See also Law portal Court of equity Case law Common law Court of Chancery Delaware Court of Chancery Economic equity Equitable remedy Ex aequo et bono Inequity aversion Maxims of equity Politics (Aristotle) Restitution Statutory law Trust Law Undue influence Unjust enrichment
https://en.wikipedia.org/wiki/Bundle_of_rights The main rights in the title bundle are usually: Exclusive possession Exclusive use and enclosure Acquisition Conveyance, including by bequest Access easement Hypothecation Partition
κλῆρος
MALE HEIR OF AN ESTATE
an object used in casting or drawing lots, which was either a pebble, or a potsherd, or a bit of wood
the lots of several persons concerned, inscribed with their names, were thrown together into a vase, which was then shaken, and he whose lot fell out first upon the ground was the one chosen
what is obtained by lot, allotted portion
a portion of the ministry common to the apostles
used of the part which one will have in eternal salvation
of salvation itself
the eternal salvation which God has assigned to the saints
of persons
Those whose care and oversight has been assigned to one [allotted charge], used of Christian churches, the administration of which falls to the lot of presbyters.
κλῆρος klēros, klay’-ros; probably from G2806 (through the idea of using bits of wood, etc., for the purpose; a die (for drawing chances); by implication, a portion (as if so secured); by extension, an acquisition (especially a patrimony, figuratively):—heritage, inheritance, lot, part.
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κλῆρος • (klêros) m (genitive κλήρου); second declension (Epic, Attic, Ionic, Koine)
Noun
A lot
That which is assigned by lot, an allotment
A farm
An inheritance
The clergy.
From Proto-Indo-European *kleh₂-, from *kelh₂- (“to hit, cut down”).
Cognate with κόλαφος (kólaphos),
Latin clādes,
Scots holt (“a wood, copse. thicket”),
North Frisian holt (“wood, timber”),
West Frisian hout (“timber, wood”),
Dutch hout (“wood, timber”),
German Holz (“wood”),
Icelandic holt (“woodland, hillock”),
Old Irish caill (“forest, wood, woodland”),
Albanian shul (“door latch”).
From Proto-Indo-European *kleh₂-, from *kelh₂- (“to hit, cut down”).
allotment idem, page 25. assignment idem, page 46. cast idem, page 116. estate idem, page 283. inheritance idem, page 440. lot idem, page 501. portion idem, page 627. property idem, page 653.
κλῆρος τῶν ἁγίων, i. e. the eternal salvation which God has assigned to the saints, Colossians 1:12 (where cf. Lightfoot). of persons, οἱ κλῆροι, those whose care and oversight has been assigned to one (allotted charge), used of Christian churches, the administration of which falls to the lot of the presbyters: 1 Peter 5:3, cf. Acts 17:4
גּורָל and נַחֲלָה; a lot.
i. e. an object used in casting or drawing lots, which was either a pebble, or a potsherd, or a bit of wood (hence, κλῆρος is to be derived from κλάω.
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Original Word: κλῆρος, ου, ὁ Part of Speech: Noun, Masculine Transliteration: kléros Phonetic Spelling: (klay'-ros) Definition: a lot Usage: (a) a lot, (b) a portion assigned; hence: a portion of the people of God assigned to one's care, a congregation.
Cognate: 2819 klḗros (a masculine noun derived from klēro, “to cast a lot”) – properly, a lot, cast to distribute (“apportion”). Scripture encourages casting lots (2819 /klḗros) to better discern the preferred-will of God (cf. 2307 /thélēma and their association in Col 1:9-12).
[2818 /klēronómos (“heir”) is derived from 2819 /klḗros (“lot, the casting of lots”), not the other way around – i.e. the term “lots” is not derived from 2818 (klēronómos). Moreover, 2819 (klḗros) is not etymologically related to (cognate with) 2975/lagxanō (“to cast lots,” see there).
allotted to your charge (1), inheritance (2), lot (1), lots (5), portion (1), share (1).
λαγχάνειν and λαμβάνειν τόν κλῆρον τῆς διακονίας, a prrtion in the ministry common to the apostles.
κληρονομία (which see) it is used of the part which one will have in eternal salvation.
κλῆρος τῶν ἁγίων, i. e. the eternal salvation which God has assigned to the saints.
οἱ κλῆροι, those whose care and oversight has been assigned to one (allotted charge), used of Christian churches, the administration of which falls to the lot of the presbyters.
Probably from klao (through the idea of using bits of wood, etc., for the purpose; a die (for drawing chances); by implication, a portion (as if so secured); by extension, an acquisition (especially a patrimony, figuratively) – heritage, inheritance, lot, part.
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BREAK BREAD
κλάω Part of Speech: Verb Transliteration: klaó Phonetic Spelling: (klah'-o) Definition: to break Usage: I break (in pieces), break bread.
to break: used in the N. T. of the breaking of bread (see ἄρτος)
a pregnant construction, equivalent to ‘to break and distribute among’ etc.
A primary verb; to break (specially, of bread) – break.
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ἐκκλάω Part of Speech: Verb Transliteration: ekklaó Phonetic Spelling: (ek-klah'-o) Definition: to break off Usage: I break off.
from ek and klaó
From ek and klao; to exscind – break off.
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OLIVE TREE
Unchecked Copy BoxRom 11:17 - And if some of the branches be broken off, G1575 and thou, being a wild olive tree, wert graffed in among them, and with them partakest of the root and fatness of the olive tree.
Rom 11:19 - Thou wilt say then, The branches were broken off, G1575 that I might be graffed in.
Unchecked Copy BoxRom 11:20 - Well; because of unbelief they were broken off, G1575 and thou standest by faith. Be not highminded, but fear.
The Greek verb “ἐκκλάω”
Limited to Rom. 11:17, 19-20, the Greek verb “ekklao” meant “cut off” or “break off.” Paul used this term to describe unbelieving Jews. More information about the Jews being “cut off” may be found in my commentary on Romans 11.
Exscind to cut out; excise; extirpate. verb (used with object) to cut out or off. Exscind(verb) to cut off; to separate or expel from union; to extirpate. From ex "out", from + scindere "to cut".
scindō (present infinitive scindere, perfect active scidī, supine scissum); third conjugation
Verb
I cut, tear, rend or break asunder; carve; split, divide or separate by force.
I tear off one’s travelling cloak; urge or press one to stay.
I part, separate, divide.
I destroy.
I distract, agitate, disturb.
Cognate with Ancient Greek σχίζω σχῐ́ζω • (skhízō) Verb I split, cleave. I part, separate, divide.
Extirpate
to pull up by the roots; root out
to destroy or remove completely; exterminate; abolish
ἐπίκληρος
FEMALE HEIR
The term epikleros (a feminine adjective acting as noun.
From the proverb ὲπί, (“on, upon”,
and the noun κλῆρος, (“lot, estate”)
An epikleros (ἐπίκληρος; plural epikleroi) was an heiress in ancient Athens and other ancient Greek city states, specifically a daughter of a man who had no male heirs.
In Sparta, they were called patrouchoi (πατροῦχοι), as they were in Gortyn. Athenian women were not allowed to hold property in their own name; in order to keep her father’s property in the family, an epikleros was required to marry her father’s nearest male relative. Even if a woman was already married, evidence suggests that she was required to divorce her spouse to marry that relative. Spartan women were allowed to hold property in their own right, and so Spartan heiresses were subject to less restrictive rules.
Plato wrote about epikleroi in his Laws, offering idealized laws to govern their marriages.
The term epikleros (a feminine adjective acting as noun; from the proverb ὲπί, epí, “on, upon”, and the noun κλῆρος, klēros, “lot, estate”) was used in Ancient Greece to describe the daughter of a man who had died leaving no male heir. It translates to “attached to the family property”,[1] or “upon, with the estate”. In most ancient Greek city states, women could not own property,[1] and so a system was devised to keep ownership within the male-defined family line. Epikleroi’ were required to marry the nearest relative on their father’s side of the family, a system of inheritance known as the epiklerate.[2] Although epikleros is often mistranslated as “heiress”,[3] strictly speaking the terms are not equivalent, as the woman never owned the property and so was unable to dispose of it.[4] Raphael Sealey argues that another translation could be “female orphan”.[5] The term was used interchangeably, both of the woman herself, and of the property that was the inherited estate.[6] The entire system of the epiklerate was unique to Ancient Greece, and mainly an Athenian institution.
ἀγχιστεία
The historian John Gould notes that the order of relatives that were required to marry the epikleros coincided with the relatives required to avenge a murder.[10] This set of relatives was known as the anchisteia (ἀγχιστεία) in Athens.[10][11] The anchisteia was also the group of relatives who would inherit property in the absence of legal heirs.[12] If there was more than one possible spouse in a set of relatives, the right to marry the epikleros went to the eldest one.[13] The property that was inherited could also be in debt, which would not affect the epikleros’ status.[11]
αγχιστεία
OBLIGATED BY - RELATED BY MARRIAGE
ἀγχιστεία • (ankhisteía) f (genitive ἀγχιστείας); first declension Noun close kinship right of inheritance exclusion by descent.
From ἄγχιστος (“nearest”) + -εία (relationship)
αγχιστεία • (anchisteía) f (uncountable)
Noun
relationship by marriage
Έχουν συγγένεια εξ αγχιστείας. (They are related by marriage.)
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SUFFIX
-είο • (-eío) n
Suffix
added to a noun to denote a relationship with a place, building, etc
ιατρός (iatrós, “doctor”) + -είο (-eío) → ιατρείο (iatreío, “doctor’s surgery”)
νεκρός (nekrós, “dead”) + τάφος (táfos, “grave”) + -είο (-eío) → νεκροταφείο (nekrotafeío, “cemetery”)
έλαιο (élaio, “oil”) + τρίβω (trívo, “to grind”) + -είο (-eío) → ελαιοτριβείο (elaiotriveío, “olive press”)
άρτος (ártos, “bread”) + πωλώ (poló, “to sell”) + -είο (-eío) → αρτοπωλείο (artopoleío, “bread shop”)
-εῖον • (-eîon) n (genitive -είου); second declension
Suffix
Forms nouns, usually instruments or means of action, from noun-stems.
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οἶκος
THE HOUSE
ECONOMY - ECOLOGY
The ancient Greek word oikos (ancient Greek: οἶκος, plural: οἶκοι;
English prefix: eco- for ecology and economics) refers to three related but distinct concepts: the family, the family’s property, and the house. Its meaning shifts even within texts, which can lead to confusion.[1]
The oikos was the basic unit of society in most Greek city-states. In normal Attic usage the oikos, in the context of families, referred to a line of descent from father to son from generation to generation.[2] Alternatively, as Aristotle used it in his Politics, the term was sometimes used to refer to everybody living in a given house. Thus, the head of the oikos, along with his immediate family and his slaves, would all be encompassed.[3] Large oikoi also had farms that were usually tended by the slaves, which were also the basic agricultural unit of the ancient economy.
Traditional interpretations of the layout of the oikos in Classical Athens have divided into men’s and women’s spaces, with an area known as the gynaikon or gynaikonitis associated with women’s activities such as cooking and textiles work,[4] and an area restricted to men called the andron.
γυναικεῖον
FEMALES QUARTERS
gynaeceum (Greek: γυναικεῖον gynaikeion, from Ancient Greek γυναικεία gynaikeia “part of the house reserved for the women”; literally “of or belonging to women, feminine”)[1] or the gynaeconitis (γυναικωνῖτις gynaikōnitis “women’s apartments in a house”)[2] was a building or the portion of a house reserved for women, generally the innermost apartment.
Archeologists have developed various perspectives on how architectural design was fundamentally utilized in the domination of women and the lower classes through various periods of history. The segregation of women from the public sphere through the addition of doors, limits of sight lines in between rooms, the addition of a courtyard, and even the addition of a second floor parallels the gradual evolution of the city-state. Some would argue that the presence of women in the public sphere increased at a certain point through changes to dress and the increased use of the veil or hijab in some Muslim communities.[5] The hijab or veil is seen by some researchers as an extension of the home and functions to protect women from the view of non-kin males. The domination of women through social conventions such as enforcing the use of the veil and the creation of guardians of women, and limits to movement within and outside of the home are evident in existing historical record. Archeological record provides a limited perception of the realities of women as much of the record has been lost of the centuries.
Free-born male citizens held political, social and economic power within the domestic and public sphere, as evidenced by the vast amount of historical records available regarding inheritance, property rights, and trade agreements.[6] Ancient law books and surviving artwork reveal inheritance and property rights favoring male kin and even male non-kin over the women of the household. The practice of exposing new born female babies revealed a society that favored the male sex.[6] The creation of specific rooms in the house designated for male only socialization appeared at a certain point in the Classical Greek period. The practice of holding symposium within the andron for the possible purpose of arranging economic agreements within the male aristocratic community is alluded to in many ceramic vases and murals.[7] It is in sifting through these surviving remnants of the domestic sphere that archeologists have been able to piece together an understanding of women’s social, economic, and political realities.
ἀνδρών
MALE QUARTERS
Andron (Greek: ἀνδρών andrōn),[1] or andronitis (ἀνδρωνῖτις andrōnitis),[2] is part of a Greek house that is reserved for men, as distinguished from the gynaeceum (γυναικεῖον gynaikeion), the women’s quarters.[3] The andron was used for entertaining male guests.[4] For this purpose the andron held several couches, usually an odd number to allow space for the door, tables which could be tucked under the couches, artwork and any other necessary paraphernalia. Not all classical Greek houses were large enough to have a dedicated andron, and even those that did might have used the room for mixed-gendered events and women receiving female guests, as well as men hosting symposia.[5] In excavations at Olynthus, rooms identified as andrones contained items identified with female activities, as in the rest of the house.[5]
συμπόσιον
SYMPOSIUM
In ancient Greece, the symposium (Greek: συμπόσιον symposion or symposio, from συμπίνειν sympinein, “to drink together”) was a part of a banquet that took place after the meal, when drinking for pleasure was accompanied by music, dancing, recitals, or conversation.[1] Literary works that describe or take place at a symposium include two Socratic dialogues, Plato’s Symposium and Xenophon’s Symposium, as well as a number of Greek poems such as the elegies of Theognis of Megara. Symposia are depicted in Greek and Etruscan art that shows similar scenes.[1]
In modern usage, it has come to mean an academic conference or meeting such as a scientific conference. The equivalent of a Greek symposium in Roman society is the Latin convivium.[1]
The Greek symposium was a key Hellenic social institution. It was a forum for men of respected families to debate, plot, boast, or simply to revel with others. They were frequently held to celebrate the introduction of young men into aristocratic society. Symposia were also held by aristocrats to celebrate other special occasions, such as victories Rin athletic and poetic contests. They were a source of pride for them.
Symposia were usually held in the andrōn (ἀνδρών), the men’s quarters of the household. The participants, or “symposiasts”, would recline on pillowed couches arrayed against the three walls of the room away from the door.
A symposium would be overseen by a “symposiarch” who would decide how strong the wine for the evening would be, depending on whether serious discussions or sensual indulgence were in the offing. The Greeks and Romans customarily served their wine mixed with water, as the drinking of pure wine was considered a habit of uncivilized peoples. However, there were major differences between the Roman and Greek symposia. A Roman symposium (convivium) served wine before, with and after food, and women were allowed to join. In a Greek symposium, wine was only drunk after dinner, and women were not allowed to attend.[5] The wine was drawn from a krater, a large jar designed to be carried by two men, and served from pitchers (oenochoe). Determined by the Master of Ceremonies, the wine was diluted to a specific strength and was then mixed. Slave boys would manage the krater, and transfer the wine into pitchers. They then attended to each man in the symposium with the pitchers and filled their cups with wine.[6] Certain formalities were observed, most important among which were libations, the pouring of a small amount of wine in honour of various deities or the mourned dead. In a fragment from his c. 375 BC play Semele or Dionysus, Eubulus has the god of wine Dionysos describe proper and improper drinking:
κρατήρ
BOWL FOR MIXING WINE
A krater or crater (Greek: κρατήρ, kratēr, literally “mixing vessel”) was a large vase in Ancient Greece, particularly used for watering down wine.
κρᾱτήρ • (krātḗr) m (genitive κρᾱτῆρος); third declension mixing bowl for wine messenger who bears an ode a constellation, the cup cup-shaped basin crater, mouth of a volcano.
From a zero grade of Proto-Indo-European *ḱerh₂-, whence also κεράννυμι (keránnumi, “I mix”), + -τήρ (-tḗr).
*ḱerh₂-
head, top
horn.
Potentially a collective derivation in *-h₂ from *ḱer- (“horn”).[2] A possible loan relation with Proto-Semitic *qarn- (“horn”) has also been suggested.
Drinking ákratos (undiluted) wine was considered a severe faux pas (misstep, wrongdoing) in ancient Greece, enough to characterize the drinker as a drunkard and someone who lacked restraint and principle.[citation needed] Ancient writers prescribed that a mixing ratio of 1:3 (wine to water) was optimal for long conversation, a ratio of 1:2 when fun was to be had, and 1:1 was really only suited for orgiastic revelry, to be indulged in very rarely, if at all.
O
MASTER OF CEREMONIES
A master of ceremonies, abbreviated MC, is the official host of a ceremony, staged event or similar performance.
The term is earliest documented in the Catholic Church since the 5th century, where the Master of Ceremonies was and still is an official of the Papal Court responsible for the proper and smooth conduct of the elegant and elaborate rituals involving the Pope and the sacred liturgy.
The master of ceremonies sometimes also refers to the protocol officer during an official state function, especially in monarchies.
ceremony (n.)
late 14c., cerymonye, “a religious observance, a solemn rite,” from Old French ceremonie and directly from Medieval Latin ceremonia, from Latin caerimonia “holiness, sacredness; awe; reverent rite, sacred ceremony,” an obscure word, possibly of Etruscan origin, or a reference to the ancient rites performed by the Etruscan pontiffs at Caere, near Rome.
άγριος
UNTAMED - WILD - FERRAL
άγριος (“undomesticated, uncultivated, wild”)
άγριος • (ágrios) m (feminine άγρια, neuter άγριο)
(of animals) undomesticated, untamed, feral, wild
(of plants) wild, uncultivated
(of persons) uncouth, unsociable, uncivilised (UK), uncivilized (US)
άγρια (ágria, “wildly”)
αγριάδα f (agriáda, “wildness”)
αγριάνθρωπος m (agriánthropos, “wild man”)
αγριελιά f (agrieliá, “wild olive tree”)
αγρίεμα m (agríema, “wildness, ferocity, bullying”)
αγριεύω (agriévo, “to infuriate, to bully, to become wild”)
αγριεύομαι (agriévomai, “to be frightened”)
αγρίμι n (agrími, “wild animal”)
αγριότητα f (agriótita, “ferocity”)
αγρίως (agríos, “wildly, savagely”)
ἄγρῐος • (ágrios) m (feminine ἀγρίᾱ, neuter ἄγρῐον); first/second declension
Living in the open fields
(of plants or animals) wild (non-domesticated),
(of people or animals) wild, savage, violent, fierce
(of situations) cruel, harsh.
From ἀγρός (“field, country”) + -ιος (adjective suffix).
ᾰ̓γρός • (agrós) m (genitive ᾰ̓γροῦ); second declension (Epic, Attic, Ionic, Doric, Koine)
field, land, countryside.
From Proto-Indo-European *h₂éǵros. *h₂éǵros m (non-ablauting) field, pasturage. From verbal root *h₂eǵ- (“to drive”) From Latin agō (“to drive”) Ancient Greek ἄγω (ágō, “to lead”) Sanskrit अजति (ájati, “to drive, propel, cast”)
Cognates include Mycenaean Greek 𐀀𐀒𐀫 (a-ko-ro),
Latin ager
Sanskrit अज्र (ájra)
Old English æcer (English acre) æcer m a field a measure of land, originally the amount a yoke of oxen could plough in a day; an acre. *akraz m field, open land.
𐀀𐀒𐀫 (a-ko-ro)
field, country.
From Latin - ager m (genitive agrī); second declension field, farm land, estate, park territory, country terrain soil
अज्र • (ájra) m
field, plain
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acre (plural acres)
An English unit of land area (symbol: a. or ac.) originally denoting a day’s plowing for a yoke of oxen, now standardized as 4,840 square yards or 4,046.86 square meters.
Any of various similar units of area in other systems.
(informal, usually in the plural) A wide expanse.
I like my new house - there’s acres of space!
(informal, usually in the plural) A large quantity.
(obsolete) A field.
(obsolete) The acre’s breadth by the length, English units of length equal to the statute dimensions of the acre: 22 yds (≈20 m) by 220 yds (≈200 m).
(obsolete) A duel fought between individual Scots and Englishmen in the borderlands.
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HORNS UNWROUGHT
unwrought (comparative more unwrought, superlative most unwrought)
In the native state, before being worked on; especially used of bars of bullion and other metal.
unwrought
Verb
simple past tense and past participle of unwork
By the King. Proclamation for prohibiting the transportation of horns unwrought, and bunns of horns unwrought.
England and Wales. Sovereign (1660-1685 : Charles II)
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όχλος
MOB - UNEDUCATED POPULACE
όχλος • (óchlos) m (plural όχλοι)
(derogatory) mob, populace.
ὄχλος • (ókhlos) m (genitive ὄχλου); second declension Noun multitude, crowd, mob mass, multitude riot, tumult, disturbance, trouble.
ὄχος • (ókhos) m (genitive ὄχου); second declension Noun anything which holds, bears carriage, cart, chariot the wheels of a chariot.
αἰγίς (, “aegis”) + ὄχος (, “bearing”)
αἰγίοχος • (aigíokhos) m or f (neuter αἰγίοχον); second declension
(Epic) aegis-bearing (epithet of Zeus)
αἰγῐ́ς • (aigís) f (genitive αἰγῐ́δος); third declension
the aegis; a shield of Zeus or cloak of Athena.
a shield, a defence.
Probably from Proto-Indo-European *h₂eyg- (“to stir, set in motion”), but probably from αἴξ (aíx, “goat”), as in a goat-skin shield. Has also been connected to ἀΐσσω (aḯssō, “to move violently”) and Sanskrit एजति (éjati, “to tremble, shake”).
γῠνή
FEMALE - WIFE -.QUEEN
γῠνή • (gunḗ) f (genitive γῠναικός); third declension
woman, female.
From Proto-Indo-European *gʷḗn (“woman”).
Cognates include Mycenaean Greek 𐀓𐀙𐀊 (ku-na-ja),
Sanskrit जनि (jani),
Old Armenian կին (kin), and
Old English cwēn (English queen).
cwēn f
queen
Engla cwēn
The queen of England
Sēo cwēn wafode holdlīċe tō þām folce.
The queen waved graciously to the people.
Se cyning and sēo cwēn þanciaþ þē þīnre þeġnunge.
The king and queen thank you for your service.
woman
wife
cwene (“woman, wife”)
γυναίκα • (gynaíka) f (plural γυναίκες)
woman, wife
(woman): κυρία f (kyría)
(wife): παντρεμένη f (pantreméni)
(wife, spouse): σύζυγος m or f (sýzygos)
Antonyms
Edit
(wife, woman): άνδρας m (ándras, “man, husband”)
(wife): παντρεμένος m (pantreménos, “husband”)
περιουσία
ESTATE
περιουσία • (periousía) f (plural περιουσίες)
property, possessions, wealth (personal)
fortune, estate
Declension
declension of περιουσία
Synonyms
βιος n (vios)
Derived terms
ακίνητη περιουσία f (akíniti periousía, “real estate”)
Διαθήκη
WILL AND TESTAMENT
Noun
διαθήκη • (diathíki) f (plural διαθήκες)
(law) will, testament (document)
δῐᾰθήκη • (diathḗkē) f (genitive δῐᾰθήκης); first declension
testament, will (legal document)
covenant
Proper noun
Καινή Διαθήκη • (Kainí Diathíki) f
(Christianity) New Testament
Βίβλος f (Vívlos, “Bible”)
Αγία Γραφή f (Agía Grafí, “Holy Writ”)
Παλαιά Διαθήκη f (Palaiá Diathíki, “Old Testament”)
Adjective
παλαιός • (palaiós) m (feminine παλαιά, neuter παλαιό)
long established, old, former, not modern, worn out
Adjective
παλιός • (paliós) m (feminine παλιά, neuter παλιό)
old, former, long established, not modern
(of objects) worn out
(of people) long established, with long experience (especially in a profession)
Adjective καινός • (kainós) m (feminine καινή, neuter καινόν); first/second declension new, novel, recent fresh, unused strange, unusual
Verb
καινόω • (kainóō)
I make new, renew, change
From καινός (“new”) + -όω (factitive verb–forming suffix).
Noun
καίνωσῐς • (kaínōsis) f (genitive καινώσεως); third declension
renewal
Noun
ᾰ̓νᾰκαίνωσῐς • (anakaínōsis) f (genitive ἀνακαινώσεως); third declension
renewal
Sanskrit कन्या (kanyā, “girl, maiden”)
Avestan 𐬐𐬀𐬌𐬥𐬈 (kaine, “a maiden”)
Noun
καινότης • (kainótēs) f (genitive καινότητος); third declension
newness, freshness
novelty
(biblical, Christianity) the new state of eternal life given by the Holy Spirit
From καινός (“new”) + -της (suffix forming nouns of state).
Adjective
Latin: aeternālis (neuter aeternāle); third-declension two-termination adjective
everlasting, eternal
aeternus (“eternal, endless”) + -ālis (Used to form adjectives of relationship from nouns or numerals)
-ālis (Used to form adjectives of relationship from nouns or numerals)
Examples:
anima (“life”) + -alis → animālis (“living”)
duo (“two”) + -alis → duālis (“that contains two”)
nātūra (“nature”) + -alis → nātūrālis (“natural”)
rēx (“king, ruler”) + -alis → rēgālis (“regal, royal”)
Adjective aeternus (feminine aeterna, neuter aeternum, adverb aeternō); first/second-declension adjective abiding, lasting, permanent, perpetual eternal, endless immortal
from Proto-Indo-European *h₂eyu- (“long time, lifetime”)
aevum n (genitive aevī); second declension
(principally): time as a single, unified, continuous and limitless entity; infinite time, time without end; to wit: eternity, agelessness, timelessness
Synonym: aeternitās
(restrictedly): an undefined, particularly long period of time: an age, an era, a term, a duration
Synonym: aetās
(restrictedly, pertaining to a person): generation, lifetime, lifespan
Synonym: aetās
(Medieval Latin, philosophy) aevum, the mean between time and eternity, aeviternity
from Proto-Italic *aiwom (“period, age”)
from Proto-Indo-European *h₂eyu- (“long time, lifetime”).
Noun αἰών • (aiṓn) m (genitive αἰῶνος); third declension lifetime generation a long period of time, eon, epoch, age the current world eternity
Adverb ᾱ̓εί or ᾰ̓εί • (āeí or aeí) (Attic) always, ever, forever Νῦν καὶ ἀεὶ. Nûn kaì aeì. For ever and ever.
from Proto-Indo-European *h₂ey- (“vital energy, life”).
Middle English
aye (not comparable)
(archaic) ever, always
compare Old English ǣ(w) (“law”)
compare Old English āwo, āwa, ā, ō,
Proto-Germanic Etymology From Proto-Indo-European *h₂óyu ~ *h₂yéws, reformed as a thematic (a-stem) noun. Noun *aiwaz m long time, age, eternity
Proto-West Germanic
*aiw m
law
Noun
*aiw m
long time, age, eternity
cognates Latin iūs (“law”), Proto-Brythonic *jʉð (“judge”).
iūs n (genitive iūris); third declension law, right 163 BCE, Publius Terentius Afer, Heauton Timorumenos : Ius summum saepe summa est malitia. Supreme law is often supreme malice. subjective right, individual right court of law
from Proto-Indo-European *h₂yew-,
an extended form of the root *h₂ey- (the source of aevum and iuvenis). Cognate with Sanskrit योस् (yós).
From *h₂óyu (“long time, lifetime”) + *-Hō (“Hoffman’s suffix”).
Adjective
*h₂yéwHō
young
Antonym: *sénos
Hoffman’s suffix
*-Hō
Derives adjectives, nouns indicating possession, denoting burden, authority.
Adjective
iuvenis (genitive iuvenis, comparative iūnior or iuvenior, superlative iuvenissimus); third-declension one-termination adjective
young
Old English ġeong (English young).
Proto-Indo-European
Root
*h₂ey-
vital force, life, age, eternity
Root
*h₂ey-
day, morning
from Proto-Indo-European *h₂yew-
Root
*h₂yew-
straight, upright, right
right, justice, law
Latin: iūstus Adjective iūstus (feminine iūsta, neuter iūstum, comparative iūstior, superlative iūstissimus); first/second-declension adjective just, righteous lawful, legal justified, merited, well-deserved, due (figuratively) exact, straight, direct
Latin: iūrō
iūrō (present infinitive iūrāre, perfect active iūrāvī, supine iūrātum); first conjugation
I swear an oath; I vow.
πάλαι • (pálai)
(of a point in the past)
long ago, in days past
Of past time closer to the present: before, earlier, a while ago
with a present-tense verb since a point in the past, for a long time
A will or testament is a legal document that expresses a person’s (testator) wishes as to how their property (estate) is to be distributed after their death and as to which person (executor) is to manage the property until its final distribution. For the distribution (devolution) of property not determined by a will, see inheritance and intestacy.
Though it has at times been thought that a “will” historically applied only to real property while “testament” applied only to personal property (thus giving rise to the popular title of the document as “last will and testament”), the historical records show that the terms have been used interchangeably.[1] Thus, the word “will” validly applies to both personal and real property. A will may also create a testamentary trust that is effective only after the death of the testator.
ὑπερδῐᾰθήκη
CODICIL - CODES
ὑπερδῐᾰθήκη • (huperdiathḗkē) f (genitive ὑπερδῐᾰθήκης); first declension
A codicil
From ὑπερ- (huper-, “super-”) + διαθήκη (diathḗkē, “testament, covenant”).
Noun
codicil (plural codicils)
(law) An addition or supplement that explains, modifies, or revokes a will or part of one.
from Latin cōdicillus, diminutive of cōdex. See code.
Noun
cōdicillus m (genitive cōdicillī); second declension
Diminutive of cōdex
(chiefly in the plural) firewood
(chiefly in the plural) notepad, writing tablet; writing, petition
codicil (to a will)
commission; statement of appointment (to office)
Noun
cōdex m (genitive cōdicis); third declension
Alternative form of caudex (“tree trunk; book, notebook”)
codex (plural codices or codexes)
An early manuscript book.
A book bound in the modern manner, by joining pages, as opposed to a rolled scroll.
From Latin cōdex, variant spelling of caudex (“tree trunk, book, notebook”)
Noun caudex m (genitive caudicis); third declension A tree trunk, stump. A bollard; post. A book, writing; notebook, account book. (derogatory) A blockhead, idiot.
ὀξύᾱ • (oxúā) f (genitive ὀξύᾱς); first declension
beech (Fagus sylvatica)
spear made from its wood
Adjective
ὀξύϊνος • (oxúïnos) m (feminine ὀξυΐνη, neuter ὀξύϊνον); first/second declension
made of beech wood
cognate with Proto-Germanic *askaz (“ash tree”)
Proto-Indo-European *Heh₃s- (“ash tree”), the same source as English ash, Old Norse askr, Welsh onnen, Latin ornus (“wild mountain ash”)
A codicil is a testamentary document similar but not necessarily identical to a will. In some jurisdictions, it may serve to amend, rather than replace, a previously executed will. In others, it may serve as an alternative to a will. In still others, there is no recognized distinction between a codicil and a will.
A codicillus (diminutive of codex)[4] was a written document subject to fewer formal requirements than a will (testamentum) that, in its initial use, could supplement or amend an existing will, provided that the codicil was specified, i. e. confirmed, in the will.[5] However, if the will did not confirm the codicil, all provisions in the codicil were considered fideicommissa. Furthermore, a will that did not nominate an heir could be considered a codicil. Thus, when a testator did not nominate an heir, his will would be considered a codicil and his bequests would become fideicommissa. This “opened a way to save certain dispositions in a will which was invalid due to some formal or substantive defect”: if a testator failed or chose not to nominate an heir, an estate would pass to heirs pursuant to rules of intestacy, but those heirs would be bound by the fideicommissa in the codicil.[citation needed] By the time of the Codex Justinianus, the formal requirements for wills had relaxed, while requirements for codicils had become more stringent. “There was thus little difference between the formalities for a will and for a codicil”, and an invalid will, when for example, no heir had been nominated, could often be validated as a codicil.
εμπιστοσύνη
TRUSTS
https: //en.wikipedia.org/wiki/Trust_law
https: //en.wikipedia.org/wiki/Trust_(social_science)
confidence • ( empistosyni ) f ( uncountable )
( singular only ) trust ; confidence.
See Ancient Greek ἐμπιστεύω ( empisteúō , “ I entrust ” )
εμπιστεύομαι I trust ( empistévomai , “ to trust ” )
εμπιστεύομαι • (empistévomai) deponent (past εμπιστεύτηκα/εμπιστεύθηκα)
(transitive) trust, entrust someone
(transitive) confide something
from ἐν (en, “in”) (ἐμ- (ἐm-)) + passive voice of πιστεύω (pisteúō, “believe”).
Verb
πιστεύω • (pisteúō)
to have faith (in, upon, or with respect to, a person or thing), to credit
to entrust (especially one’s spiritual well being to Christ)
to believe, commit (to trust), put in trust with.
From πίστις (pístis, “faith”) πιστ- (pist-) + -εύω (-eúō, “suffix for verbs”)
Noun
πῐ́στῐς • (pístis) f (genitive πῐ́στεως or πῐ́στῐος); third declension
trust in others, faith
belief in a higher power, faith
the state of being persuaded of something: belief, confidence, assurance
trust in a commercial sense: credit
faithfulness, honesty, trustworthiness, fidelity
that which gives assurance: treaty, oath, guarantee
means of persuasion: argument, proof
that which is entrusted.
πείθω • (peíthō) (active) I convince, persuade I succeed through entreaty I mislead I bribe I tempt (in the mediopassive, πείθομαι, and Epic future, πῐθήσω, with dative) I obey, yield to I believe, trust in (second perfect active, πέποιθᾰ, with passive sense) I trust, rely on (with dative of person or thing) (perfect passive, πέπεισμαι, post-Epic) I believe, trust (with dative)
Noun
πεῖσμᾰ • (peîsma) n (genitive πείσμᾰτος); third declension
persuasion, confidence
Noun
πείσμα • (peísma) n (uncountable)
tenacity, persistence, stubbornness, obstinacy
From earlier πένθ-σμα (pénth-sma), from Proto-Indo-European *bʰendʰ- (“to tie; bond, band”), which Greek may have retained in πάσχω (páskhō, “to undergo, experience”) and πενθερός (pentherós, “father-in-law”).
Verb
πᾰ́σχω • (páskhō)
to undergo, experience (as opposed to acting)
(with another person involved) have someone do something to oneself, to be treated a certain way by someone (with ὑπό (hupó) and genitive, sometimes with adverb of manner)
(in a negative sense) suffer at someone’s hands
(law) to suffer a punishment
(without a person involved) to experience something, have something happen to one, undergo something
to be in a certain situation (with adverb of manner)
to feel an emotion or impulse
(in negative sense) suffer
to be ill or injured in a certain way (with accusative of part affected)
ἔπᾰθον • (épathon)
first-person singular/third-person plural aorist indicative active of πᾰ́σχω (páskhō):
I or they suffered
from Proto-Indo-European *bʰendʰ- (“to tie; bond, band”), which Greek may have retained in πάσχω (páskhō, “to undergo, experience”) and πενθερός (pentherós, “father-in-law”).
Noun πενθερός • (pentherós) m (genitive πενθεροῦ); second declension father-in-law Synonym: ἑκυρός (hekurós) (in the plural) parents-in-law
From Proto-Indo-European *bʰendʰ- (“to tie; bond, band”) and formally almost completely agreeing with Lithuanian beñdras (“common, shared”). Compare also Sanskrit बन्धु (bandhu, “relative, kindred”).
Noun
ἑκῠρός • (hekurós) m (genitive ἑκῠροῦ); second declension
(Epic) father-in-law
Synonym: πενθερός (pentherós)
Verb πείθω • (peíthō) (active) I convince, persuade I succeed through entreaty I mislead I bribe I tempt (in the mediopassive, πείθομαι, and Epic future, πῐθήσω, with dative) I obey, yield to I believe, trust in (second perfect active, πέποιθᾰ, with passive sense) I trust, rely on (with dative of person or thing) (perfect passive, πέπεισμαι, post-Epic) I believe, trust (with dative)
Adjective πῐστός • (pistós) m (feminine πῐστή, neuter πῐστόν); first/second declension (passive) faithful, trusty (active) faithful, believing obedient, loyal
Related terms
πίστη f (písti, “faith, creed”)
πιστεύω (pistévo, “to believe”)
Noun
πιστός • (pistós) m (plural πιστοί, feminine πιστή)
(religion) believer (usually in the plural)
Verb
πιστεύω • (pistévo) (past πίστεψα, passive πιστεύομαι)
believe
believe in, I am a believer
think, assume
(passive 3rd person: impersonal) → πιστεύεται (pistévetai, “it is believed”)
Noun
πίστη • (písti) f (plural πίστεις)
faith, creed, belief
Verb
αλλαξοπιστώ • (allaxopistó) (past αλλαξοπίστησα, passive —)
(religion) recant, change
αλλαξο- (allaxo-, “change”) + πίστη (písti, “faith”)
αλλαξοπιστία f (allaxopistía, “change of faith”)
αλλαξόπιστος (allaxópistos, “apostate, renegade”, adjective)
and see: πίστη f (písti, “faith”)
From Ancient Greek ἀλλάσσω (allássō, “to change”).
From ἄλλος (“other”) + -σσω (present tense verb).
Verb ἀλλᾰ́σσω • (allássō) to change, alter, make other than it is to give in exchange, barter on thing for another to take one thing in exchange for another to take a new position to have dealings, as a buyer or seller to alternate
Noun
ἀλλᾰγή • (allagḗ) f (genitive ἀλλᾰγῆς); first declension
(in general) change
exchange, barter, buying and selling
(economics) agio, whether premium or discount
change of posthorses, stage
Noun
αλλαγή • (allagí) f (plural αλλαγές)
change, differentiation, replacement (the action and the effect)
άλλαγμα n (állagma, “process of changing”)
αλλαγμένος (allagménos, “changed”)
αλλάζω (allázo, “to change”)
αλλαξιά f (allaxiá, “change of, set of”)
άλλος (állos, “other, more”)
ανταλλαγή f (antallagí, “exchange, barter”)
Old English bīdan (English bide) Verb bīdan to wait (+genitive for something) to stay, to remain
Verb
bide (third-person singular simple present bides, present participle biding, simple past bode or bided, past participle bided or bidden)
(transitive, chiefly dialectal) To bear; to endure; to tolerate.
(intransitive, archaic or dialectal) To dwell or reside in a location; to abide.
(intransitive, archaic or dialectal) To wait; to be in expectation; to stay; to remain.
(transitive, archaic) To wait for; to await.
from Proto-Indo-European *bʰéydʰeti
from *bʰeydʰ- (“to command, persuade, compel, trust”).
Root
*bʰeydʰ- (imperfective)
to compel, force
to trust
Verb
*bʰéydʰeti (imperfective)
to trust
Verb
fīdō (present infinitive fīdere, perfect active fīsus sum); third conjugation, semi-deponent
I trust, put confidence in
I rely upon
Adjective
fīdus (feminine fīda, neuter fīdum, comparative fīdior, superlative fīdissimus); first/second-declension adjective
trusty, trustworthy, dependable, credible
loyal, faithful
steadfast
certain, safe
Proto-Italic Etymology From Proto-Indo-European *bʰeydʰ-o-s from *bʰeydʰ- (“to trust”). Adjective *feiðos faithful, reliable
χωρίς διαθήκη
INTESTATE
https://en.wikipedia.org/wiki/Intestacy
χωρίς διαθήκη
Intestacy is the condition of the estate of a person who dies without having in force a valid will or other binding declaration.[1] Alternatively this may also apply where a will or declaration has been made, but only applies to part of the estate; the remaining estate forms the “intestate estate”. Intestacy law, also referred to as the law of descent and distribution, refers to the body of law (statutory and case law) that determines who is entitled to the property from the estate under the rules of inheritance.
Jus commune
COMMON LAW
Jus commune or ius commune is Latin for “common law” in certain jurisdictions. It is often used by civil law jurists to refer to those aspects of the civil law system’s invariant legal principles, sometimes called “the law of the land” in English law. While the ius commune was a secure point of reference in continental European legal systems, in England it was not a point of reference at all.[1] (Ius commune is distinct from the term “common law” meaning the Anglo-American family of law as opposed to the civil law family.) The phrase “the common law of the civil law systems” means those underlying laws that create a distinct legal system and are common to all its elements.
https: //en.wikipedia.org/wiki/Jus_commune
https: //en.wikipedia.org/wiki/Corpus_Juris_Civilis
The Corpus Juris (or Iuris) Civilis (“Body of Civil Law”) is the modern name[1] for a collection of fundamental works in jurisprudence, issued from 529 to 534 by order of Justinian I, Byzantine Emperor. It is also sometimes referred to metonymically after one of its parts, the Code of Justinian.
The work as planned had three parts: the Code (Codex) is a compilation, by selection and extraction, of imperial enactments to date; the Digest or Pandects (the Latin title contains both Digesta and Pandectae) is an encyclopedia composed of mostly brief extracts from the writings of Roman jurists; and the Institutes (Institutiones) is a student textbook, mainly introducing the Code, although it has important conceptual elements that are less developed in the Code or the Digest. All three parts, even the textbook, were given force of law. They were intended to be, together, the sole source of law; reference to any other source, including the original texts from which the Code and the Digest had been taken, was forbidden. Nonetheless, Justinian found himself having to enact further laws and today these are counted as a fourth part of the Corpus, the Novellae Constitutiones (Novels, literally New Laws).
Novellae Constitutiones
The Novellae Constitutiones (“new constitutions”; Latin: Novellæ constitutiones, Ancient Greek: Νεαραὶ διατάξεις), or Justinian’s Novels, are now considered one of the four major units of Roman law initiated by Roman Emperor Justinian I in the course of his long reign (AD 527–565). The other three pieces are: the Codex Justinianus, the Digest, and the Institutes. Justinian’s quaestor Tribonian was primarily responsible for compiling these last three. Together, the four parts are known as the Corpus Juris Civilis. Whereas the Code, Digest, and Institutes were designed by Justinian as coherent works, the Novels are diverse laws enacted after 534 (when he promulgated the second edition of the Code) that never were officially compiled during his reign.
https: //en.wikipedia.org/wiki/Novellae_Constitutiones
https: //en.wikipedia.org/wiki/Code_of_Justinian
https: //en.wikipedia.org/wiki/Digest_(Roman_law)
https: //en.wikipedia.org/wiki/Institutes_of_Justinian
https: //en.wikipedia.org/wiki/Law_of_Citations
https: //en.wikipedia.org/wiki/Codex_Theodosianus
https: //en.wikipedia.org/wiki/Breviary_of_Alaric
https: //en.wikipedia.org/wiki/Trinity#Theology
https: //en.wikipedia.org/wiki/Valentinian_III
https: //en.wikipedia.org/wiki/Constantinian_dynasty
https: //en.wikipedia.org/wiki/Constantine_the_Great
https: //en.wikipedia.org/wiki/First_Council_of_Nicaea
https: //en.wikipedia.org/wiki/Solidus_(coin)
https: //en.wikipedia.org/wiki/Nicene_Creed
ESTATES, WILLS, TRUSTS
https: //en.wikipedia.org/wiki/Trust_law
https: //en.wikipedia.org/wiki/Will_and_testament
https: //en.wikipedia.org/wiki/Administration_(probate_law)
κληροδότημα
DEVISE
When real estate is left through a will, it is called a devise.
Devise. A testamentary disposition of land or realty; a gift of real property by the last will and testament of the donor. When used as a noun, it means a testamentary disposition of real or Personal Property, and when used as a verb, it means to dispose of real or personal property by will.
Latin: devisare
Divisare means imagining, designing with the mind, literally “to devise”. The term was used by Leon Battista Alberti to define the work of the architect.
devise (v.)
early 13c., devisen, “to form, fashion;” c. 1300, “to plan, contrive, think or study out, elaborate in the mind,”
from Old French deviser “dispose in portions, arrange, plan, contrive” (in Modern French, “to chat, gossip”)
from Vulgar Latin *divisare
frequentative of Latin dividere “to divide” (see divide (v.)
Sense of “give, assign, or transmit by will” is from late 14c. in English, from Old French, via the notion of “to arrange a division.”
As a noun, “act of bequeathing by will” (1540s), also “a will or testament.”
di- (2)
word-forming element of Latin origin meaning “apart, asunder,” the form of dis- before certain voiced consonants. As des- was a form of dis- in Old French, some Middle English words have forms in both de- and di-; compare devise, which really belongs to di- and is related to divide.
Related entries & more
divide (v.)
early 14c., “separate into parts or pieces,” from Latin dividere “to force apart, cleave, distribute,” from assimilated form of dis- “apart” (see dis-) + -videre “to separate,” which, according to de Vaan, is from PIE *(d)uid- “to separate, distinguish” (source also of Sanskrit avidhat “allotted,” Old Avestan vida- “to devote oneself to”). He writes: “The original PIE verb … (which became thematic in Latin) meant ‘to divide in two, separate’. It lost initial *d- through dissimilation in front of the next dental stop, and was reinforced by dis- in Latin ….” Also compare devise.
It is attested from late 14c. as “sever the union or connection with,” also “disunite, cause to disagree in opinion.” Intransitive sense of “become separated into parts” is from 1520s. Mathematical sense “perform the operation of division” is from early 15c. Divide and rule (c. 1600) translates Latin divide et impera, a maxim of Machiavelli. Related:
-ize
word-forming element used to make verbs, Middle English -isen, from Old French -iser/-izer, from Late Latin -izare, from Greek -izein, a verb-forming element denoting the doing of the noun or adjective to which it is attached.
The variation of -ize and -ise began in Old French and Middle English, perhaps aided by a few words (such as surprise, see below) where the ending is French or Latin, not Greek. With the classical revival, English partially reverted to the correct Greek -z- spelling from late 16c. But the 1694 edition of the authoritative French Academy dictionary standardized the spellings as -s-, which influenced English.
In Britain, despite the opposition to it (at least formerly) of OED, Encyclopaedia Britannica, the Times of London, and Fowler, -ise remains dominant. Fowler thinks this is to avoid the difficulty of remembering the short list of common words not from Greek which must be spelled with an -s- (such as advertise, devise, surprise).
κληροδότημα
Legacy, bequest
( Legal ) asset item usually reserved for charitable purposes with legacy.
κληροδοσία
bequest
( legal ) the disposal to a person of an amount, specific items, etc. , by will or code , of a property, without, however, becoming a universal heir of the holder.
———————————————————————
What Is a Bequest?
A bequest is a financial term describing the act of giving assets such as stocks, bonds, jewelry, and cash, to individuals or organizations, through the provisions of a will or an estate plan. Bequests can be made to family members, friends, institutions, or charities.
When real estate is left through a will, it is called a devise.
KEY TAKEAWAYS
A bequest is the act of shifting assets to individuals or organizations, through the provisions of a will or an estate plan.
The IRS recently spiked the estate and gift tax exemption to $11.58 million per individual, and to $23.16 million for married couples.1
People can give gifts while avoiding taxes by using the Crummey power, which lets a person receive a gift that is not eligible for a gift-tax exclusion and change it into a gift that is eligible for the exclusion.
Understanding Bequests
In 2020, the IRS increased the estate and gift tax exemption from $11.4 million to $11.58 million per individual, and from $22.8 million to $23.16 million for married couples.1 Furthermore, the annual gift exclusion amount was spiked from $14,000 in 2017 to $15,000 in 2018.2 This essentially means that an individual may leave $11.58 million to his or her heirs and pay no federal estate or gift tax, while a married couple can shield just under $24 million from federal estate and gift taxes, by doing the same. For tax year 2021, this limit will increase again to $11.70 million.
Gift givers can also avoid taxes by exercising their Crummey power, a technique that enables a person to receive a gift that is not eligible for a gift-tax exclusion and change it into a gift that is eligible. Individuals often apply Crummey power to contributions in an irrevocable trust. In order for Crummey power to properly work, an individual must stipulate that the gift is part of the trust when it is drafted, and the gift amount cannot exceed $15,000 annually, per beneficiary (for tax years 2020 and 2021).
Generally speaking, gifts in a trust are commonly used by parents or grandparents looking to establish a trust fund for their children or grandchildren. Charitable gifts after death–also known as legacy gifts, also have the power to reduce estate taxes. Not surprisingly, such bequests can be important sources of fundraising for nonprofit organizations. When the bequest is intended for a specific purpose, it is called an endowment.
Bequest and Estate Planning
Individuals and families looking to grow and/or preserve assets for future generations can greatly benefit from the creation of a formal estate plan. An estate lawyer can greatly help with this process, which tends to become complicated, due to the intricacies involved in exchanging wealth from one generation to another. Some of the major estate planning tasks include the following steps:
Drafting a will
Naming an executor of the estate to oversee the terms of the will
Limiting estate taxes by setting up trust accounts in the name of the beneficiaries
Establishing a guardian for living dependents
Creating and/or updating beneficiaries on plans such as life insurance, IRAs, and 401(k)s
Establishing annual gifting to qualified charitable and non-profit organizations to reduce the taxable estate
Setting up a durable power of attorney (POA) to direct other assets and investments
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μηχανώμαι (machine)
devise
( ancient greek ) monotonic writing of μηχανάμαι , συνηρημένου του μηχανάομαι
( modern greek ) ( obsolete ) I engineer , fabricate , invent with art or cunning ( usually a bad omen )
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σχεδιάζω
Verb
I design • ( schediázo ) ( past I designed , passive I design , p ‑ past I designed , ppp designed )
draw , design , plan
Semantic loan from French esquisser or dessiner, or English design.
Learnedly, from Ancient Greek σχεδιάζω (skhediázō, “do a thing offhand”)
from σχέδιον (skhédion), neuter of σχέδιος (“casual, offhand”).
Adjective
σχέδῐος • (skhédios) m (feminine σχεδίᾱ, neuter σχέδῐον); first/second declension
near, close
temporary, offhand, casual, unprepared.
From σχεδόν (skhedón, “near”) + -ιος (-ios, adjective suffix).
Adverb
σχεδόν • (skhedón)
near, nearby
nearly, almost
From ἔχω (ékhō, “I hold”)
Verb ἔχω • (ékhō) In the sense of “possession, I have something” I have, possess, contain, own I keep, have charge of (with accusative of place) I inhabit (of place) I keep (to the left/right) of I possess mentally, understand I involve, admit of
In the sense of “holding onto something” I hold I hold fast, grip (of arms and clothes) I bear, wear (of a woman) I am pregnant I hold a course, guide, drive, steer I hold back, stay, check
In the sense of “remaining, I stay, I abide at something”
I hold a course, guide, drive, steer
I hold back, stay, check
In the sense of “having a capacity or skill at something”
(with infinitive) I have means to do, I am able
I have to, must
(followed by a dependent clause) I know
(impersonal) there is
(intransitive) I hold myself, keep balanced
I hold fast
(with genitive) I keep from
I am
(with adverbs of manner) I am, I happen
(with εὖ and genitive of manner) I am well off for something; I abound in it
(post-Homeric, with aorist participle) I keep (doing something)
(middle) I hold myself fast, cling closely to
I come next to, follow closely, neighbour
I depend
I am connected with by etymology
I pertain to
I bear or hold for myself
I maintain myself, stand my ground
(with accusative) I repel from myself
I keep myself back, abstain from, refrain from
Crummey Power
Crummey Power
Definition of Crummey Power
Crummey power is a technique that enables a person to receive a gift that is not eligible for a gift-tax exclusion and change it into a gift that is, in fact, eligible. Individuals often apply Crummey power to contributions in an irrevocable trust. In order for Crummey power to work, an individual must stipulate that the gift is part of the trust when it is drafted, and the gift amount cannot exceed $15,000 annually, per beneficiary.
KEY TAKEAWAYS
Crummey power allows a person to receive a gift that is not eligible for a gift-tax exclusion and then effectively transform the status of that gift into one is eligible for a gift-tax exclusion.
Crummey power was first created in the 1960s, when a wealthy grantor named Clifford Crummey had a strong desire to build a trust fund for his children, while still reaping the yearly tax exemption benefits.2
For Crummey power to work, individuals must stipulate that the gift is part of the trust when it is drafted.
The gift amount cannot exceed $15,000 per beneficiary, per year.
Breaking Down Crummey Power
Crummey power was named after Clifford Crummey, a wealthy grantor who, in the 1960s, wanted to build a trust fund for his children, while maintaining the ability to reap the yearly tax exemption benefits.2 When a donor makes a contribution to an irrevocable trust, the beneficiaries must be notified that the funds are able to be withdrawn within a certain time period that’s no less than 30 days.
A beneficiary may decline to withdraw a gift, which allows the grantor to exercise the Crummey power instead. In this scenario, the assets would be subject to the annual gift tax exclusion. A donor will usually inform the beneficiary of their intentions to use the Crummey power.
Crummey Power and Irrevocable Trusts
In addition to affording individuals the Crummey power option, irrevocable trusts have several additional unique features. By definition, an irrevocable trust cannot legally be modified or terminated without the beneficiary’s permission. When a grantor creates an irrevocable trust, they effectively relinquish all rights of ownership to the assets.
Irrevocable Trust
What Is an Irrevocable Trust?
An irrevocable trust is a type of trust where its terms cannot be modified, amended or terminated without the permission of the grantor’s named beneficiary or beneficiaries. The grantor, having effectively transferred all ownership of assets into the trust, legally removes all of their rights of ownership to the assets and the trust.
This is in contrast to a revocable trust, which allows the grantor to modify the trust, but thus loses certain benefits such as creditor protection.
How an Irrevocable Trust Works
The main reasons for setting up an irrevocable trust are for estate and tax considerations. The benefit of this type of trust for estate assets is that it removes all incidents of ownership, effectively removing the trust’s assets from the grantor’s taxable estate. It also relieves the grantor of the tax liability on the income the assets generate. While the tax rules vary between jurisdictions, in most cases, the grantor can’t receive these benefits if they are the trustee of the trust. The assets held in the trust can include — but are not limited to, a business — investment assets, cash, and life insurance policies.
