This guide is intended to define certain terminology and explain structural concepts within an estate plan that may pop up during your own research or when talking with your estate planning attorney.
Curated Content Legacy Lexicon

Estate Planning 101: A Terminology Guide

Borakove Osman LLC
By Shayna Borakove
November 16th, 2022

This guide is intended to define certain terminology and explain structural concepts within an estate plan that may pop up during your own research or when talking with your estate planning attorney.

  1. Probate and Last Will and Testament
  2. Living Trust
  3. Survivor’s Trust 
  4. Family Trust 
  5. Marital Trust
  6. Specific Distributions 
  7. Children’s Trusts 
  8. Step-Distributions versus Withdrawal Rights 
  9. Inheritance Protection and/or Restriction
  10. Funding the Trust 
  11. Trustee Nomination
  12. Additional Ancillary Documents

You can find definitions and detailed explanations, for all the items listed above, in this “Estate Planning 101 : A Terminology Guide” by Shayna Borakove of Borakove Osman LLC in Madison, WI…

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Shayna’s practice is focused on foundational and advanced estate planning with a special emphasis on multi-generational transfers, estate tax mitigation, and business planning, including succession, for the business owner. She believes in the value of including the family’s trusted advisors in the planning process, assuring the most complete plan possible.

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