Here is installment number 4 of our basic legal terminology tutorial. Check these out and keep your eyes open for more in the future.
Trustee– The person who is responsible for managing a trust as explained by the terms in the trust document. This person distributes income from the trust and is responsible for investing assets as well.
Net Earnings – Known as take home pay, net earnings for an employee is what is left of their earnings after tax and social security are removed.
Gross Income – Total income coming from all financial sources before deductions such as taxes are removed.
Estate – This refers to all the property that an individual holds at death.
We hope that these terms were informative and if you have any further questions, please feel free to contact us.
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