W

Wait-And-See The modern approach under the Rule Against Perpetuities that measures validity of interests not by  the  what-might-happen rule but by what in fact does happen. Wandry v. Commissioner, T.C. Memo, 2012-88. United States Tax Court issued a memorandum opinion…

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V

VAIL Virtual Asset Instruction Letter. Validating Lives Individuals by whose life or death it can be proven that a gift of a contingent interest does not violate the Rule Against Perpetuities.  They are not necessarily lives in being. VCL Voluntary…

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U

U/T/A Under Trust Agreement. UAA Uniform Arbitration Act UBI Unrelated Business Income. UBT Unrelated Business Tax. UBIT Unrelated Business Income Tax. UBTI Unrelated Business Taxable Income. UCA Unemployment Compensation Amendments of 1992 (P. L. 102-318). UCC Uniform Commercial Code. UCL…

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T

TAEP Truth About Estate Planning. Takers In Default Are the beneficiaries who receive appointive property to the extent a power of appointment is not effectively exercised. TAM Technical Advice Memorandum (IRS). TAMRA The Technical And Miscellaneous Revenue Act of 1988…

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S

S Corporation An S corporation, for United States federal income tax purposes, is a corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code.  In general, S corporations do not…

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R

R&D Receipts and Distributions. RAA Residential Accredited Appraiser of the National Association of Realtors. RAF Risk Adjustment Factors. RAP Rule Against Perpetuities. RBA Risk-Based Approach. RBD Required Beginning Date. RCPP Regional Conservation Partnership Program (USDA). RDP Registered Domestic Partner. REA…

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Q

QA Qualified Appraisal. QC Quarter of Coverage. QDE Qualified Disability Expenses. QDOT Qualified Domestic Trust. QDRO Qualified Domestic Relations Orders. QDT Qualified Domestic Trust. QDWI Qualified Disability and Working Individuals Program. QFOBI Qualified Family-Owned Business Interest deduction.  IRC §2057. QFP…

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P

P Parent.  Partnership. P/C Property / Casualty insurance. PACE Programs of All-inclusive Care for the Elderly. PAHC Power of  Attorney for Health Care. Parentelic A system of determining which of several collateral heirs is entitled to inherit in intestacy.  Rather…

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O

O&G Oil and Gas. OA Old Age. OAA Older American Act of 1965. OAC On Approved Credit.  Office of Assigned Counsel; San Diego County Office of Assigned Counsel, 450 B Street, Suite 840, San Diego, California 92101, Telephone: (619) 338-4800…

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