§ 101 Short title
§ 102 Scope
§ 103 Definitions
§ 104 Knowledge
§ 105 Default and mandatory rules
§ 106 Common law of trusts; principles of equity
§ 108 Principal place of administration
§ 109 Methods and waiver of notice
§ 110 Others treated as qualified beneficiaries
§ 111 Non-judicial settlement agreements
§ 112 Rules of construction
§ 113 Qualification of foreign trustee
§ 201 Role of court in administration of trust
§ 202 Jurisdiction over trustee and beneficiary
§ 203 Trust proceedings; dismissal of matters relating to foreign trusts
§ 204 Venue
§ 205 Petition for transfers of trust property the disposition of which depends upon the death of an absentee
§ 301 Representation: basic effect
§ 302 Representation by holder of general testamentary power of appointment
§ 303 Representation by fiduciaries and parents
§ 304 Representation by person having substantially identical interest
§ 305 Appointment of guardian ad litem
§ 401 Methods of creating trust
§ 402 Requirements for creation
§ 403 Trusts created in other jurisdictions
§ 404 Trust purposes
§ 405 Charitable purposes; enforcement
§ 406 Creation of trust induced by fraud, duress or undue influence
§ 407 Evidence of oral trust
§ 408 Trust for care of an animal
§ 409 Non-charitable trust without ascertainable beneficiary
§ 410 Modification or termination of trust; proceedings for approval or disapproval
§ 411 Modification or termination of non-charitable irrevocable trust by consent
§ 412 Modification or termination because of unanticipated circumstances or inability to administer trust effectively
§ 414 Modification or termination of uneconomic trust
§ 415 Reformation to correct mistakes
§ 417 Combination and division of trusts
§ 501 Rights of beneficiary’s creditor or assignee
§ 502 Spendthrift provision
§ 505 Creditor’s claim against settlor
§ 506 Overdue distribution
§ 507 Personal obligations of trustee
§ 602 Revocation or amendment of revocable trust
§ 603 Settlor’s powers; powers of withdrawal
§ 604 Limitation on action contesting validity of revocable trust; distribution of trust property
§ 701 Accepting or declining trusteeship
§ 702 Duty to provide bond
§ 703 Co-trustees
§ 704 Vacancy in trusteeship; appointment of successor
§ 705 Resignation of trustee
§ 706 Removal of trustee
§ 707 Delivery of property by former trustee
§ 708 Compensation of trustee
§ 709 Reimbursement of expenses
§ 801 Duty to administer trust
§ 802 Duty of loyalty
§ 803 Impartiality
§ 804 Prudent administration
§ 805 Costs of administration
§ 806 Trustee’s skills
§ 807 Delegation by trustee
§ 808 Powers to direct
§ 809 Control and protection of trust property
§ 810 Recordkeeping and identification of trust property
§ 811 Enforcement and defense of claims
§ 812 Collecting trust property
§ 813 Duty to inform and report
§ 814 Discretionary powers; tax savings
§ 815 General powers of trustee
§ 816 Specific powers of trustee
§ 817 Distribution upon termination
§ 1001 Remedies for breach of trust
§ 1005 Limitation of action against trustee
§ 1006 Reliance on trust instrument
§ 1007 Event affecting administration or distribution
§ 1008 Exculpation of trustee
§ 1009 Beneficiary’s consent, release or ratification
§ 1010 Limitation on personal liability of trustee
§ 1011 Interest as general partner
§ 1012 Protection of person dealing with trustee
§ 1013 Certification of trust

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Terms Used In Massachusetts General Laws > Chapter 203E > Article 1 - General Provisions and Definitions

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Chambers: A judge's office.
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Dependent: A person dependent for support upon another.
  • Devise: To gift property by will.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Inter vivos: Transfer of property from one living person to another living person.
  • Interests: includes any form of membership in a domestic or foreign nonprofit corporation. See Massachusetts General Laws ch. 156D sec. 11.01
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Probate: Proving a will
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Testator: A male person who leaves a will at death.
  • Testify: Answer questions in court.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Venue: The geographical location in which a case is tried.