Master Glossary – All Legal Glossary Terms
Santillán Law P.C. has provided this Master Glossary for those people who may be interested in learning and understanding common legal terms used in various kinds of cases such as Bankruptcy, Estate & Wills, Criminal Law, DUI, Uncontested Divorce, Real Estate and Cannabis/CBD Regulations and Law. This glossary is not and should not be construed as legal advice it is provided for informational purposes only and does not constitute “Legal Advice” For proper legal advice please consult a qualified attorney.
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- Generation-skipping transfer (GST) taxA federal tax imposed on outright gifts and transfers in trust, whether during lifetime or at death, to or for beneficiaries two or more generations younger than the donor, such as grandchildren, that exceed the GST tax exemption. The GST tax imposes a tax on transfers that otherwise would(...) Read More
- GenotypeReferring to the genetic building blocks that the plant was created from, specifically which genes were isolated and combined to create the genetic makeup. Read More
- GenusA generic term used in the classification of living organism. This term is a rank below the family and above the species of the biological organism. Read More
- GeoponicsGeoponics, as opposed to hydroponics, is a conventional growing method using soil. Read More
- GerminationThe start of the plant’s growth cycle, specifically referring to when the seed cracks and sprouts a seedling. This process is intentionally triggered to force cannabis seeds out of their dormant state and back into the normal growth life cycle. Read More
- Gift taxThe tax on completed lifetime transfers from one individual to or for the benefit of another (other than annual exclusion gifts and certain direct payments to providers of education and medical care) that exceed the gift tax exemption amount ($5 million inflation adjusted). Under the concept(...) Read More
- GrantorA person, including a testator, who creates, or contributes property to, a trust. If more than one person creates or contributes property to a trust, each person is a grantor with respect to the portion of the trust property attributable to that person’s contribution except to the extent(...) Read More
- Grantor trustA trust over which the grantor retains certain control such that the trust is disregarded for federal (and frequently state) income tax purposes, and the grantor is taxed individually on the trust’s income and pays the income taxes that otherwise would be payable by the trust or its(...) Read More
- Gross earningsAn individual's taxable income before any adjustments (such as deductions, depreciation and other calculations) are made. Read More
- Gross estateA federal estate tax concept that includes all property owned by an individual at death and certain property previously transferred by him or her that is subject to federal estate tax. Read More
- GST exemptionThe federal tax exclusion that allows a certain value of generation-skipping transfers to be made without the imposition of a generation-skipping tax. The GST exemption amount is $5 million inflation adjusted ($5.25 million in 2013). Read More
- GuarantyThe agreement of a person or entity to pay amounts due, or otherwise perform the obligations, of another person or entity (for example, the promise by Ed to pay the loan Harry owes to Tom). Read More
- GuardianAn individual or bank or trust company appointed by a court to act for a minor or incapacitated person (the “ward”). A guardian of the person is empowered to make personal decisions for the ward. A guardian of the property (also called a “committee”) manages the property of the ward. Read More
- GuardianshipA legal relationship created when a person or institution named in a will or assigned by the court to take care of minor children or incompetent adults. Sometimes called a conservatorship. Read More
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