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Today's Terms
Conservatorship
Definition:
A legal arrangement ordered by a court to protect property of a person under 18 years of age or an adult who lacks the ability to take care of his own property.
Allowance for Exempt Property
Definition:
The amount of property that a surviving husband or wife, or, if there is none, a dependent child may receive in place of personal property items such as furniture, cars, jewelry, etc.
Accounting
Definition:
A detailed written explanation of everything that has been received and paid out by a conservator, personal representative, or trustee.
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