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 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.