| gen. |
transfer of assets (The conveyance of something of value from one person, place, or situation to another. The law recognizes that persons are generally entitled to transfer their assets to whomever they wish and for whatever reason. The most common means of transfer are wills, trusts, and gifts. Increasingly, however, persons are transferring property and money in order to qualify for government-funded nursing care or to avoid paying creditors or the Internal Revenue Service. West's Encyclopedia of American Law, edition 2. Copyright 2008 Alexander Demidov) |
