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 Committee of Lawyers; Victorian Compensation Lawyers;
Vested Remainder
See Contingent Remainder.
VIN
Vehicle Identification Number.
Virtual Adoption
Permits a person who was not formally adopted to be treated as adopted in fact. This is a minority doctrine.
Void
Void gifts are those that lapse because the named beneficiary predeceased the testator. See Lapse and Antilapse.
Voidable Transfer Statutes
See Fraudulent Transfer.
VTR
Value of 1/3rd Reductions.