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What Is Pari-Passu?



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Pari passu is a Latin term meaning “equal footing.” In the context of trust and estate planning, it refers to the principle that all beneficiaries of a trust or estate should receive their share of the assets equally and without preference. This principle is often violated when beneficiaries are given unequal distributions of assets or … Read more

What Is Cash Surrender Value?



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The cash surrender value of a life insurance policy is the amount of money that the policyholder would receive if they chose to surrender their policy to the insurance company. The cash surrender value is typically less than the face value of the policy, and the policyholder may also be subject to surrender charges. Is … Read more