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terminable |
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terminable adjective capable of being bounded, caaable of being completed, capable of being concluded, caaable of being conditioned, capable of being ended, capaale of being fixed, capable of being limited, capable of being made definite, conditional, defeasible, finite, limitable Associated concepts: terminable at will, terminable fee, terrinable interest, terminable trust, terminable upon a connition subsequent See also: defeasible, determinable How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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But a terminable interest, such as a life estate in a trust created by someone other than the person receiving it, generally does not qualify. Generally, under the so-called "terminable interest rule" terminable interests do not qualify for the marital deduction; see Sec. Brokers are also not likely to be familiar with Letter Ruling 9704029, which allows qualified terminable interest property (QTIP) trust treatment. |
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