What is Abeyance?
In the strictest terms, abeyance means temporary inactivity. In the finance world, the term generally refers to unknown ownership.
How Does Abeyance Work?
Let's say John Doe owns an emptyin City XYZ. He dies without a or trust in place. John's brother, cousin, uncle and best friend all claim that John told them they could inherit the .
While the matter goes through probate, the property tax payment or for the outcome of the lawsuit John was facing from a person who was hurt while trespassing on John's property.is in abeyance. That is, it is unclear who owns the property. Accordingly, it is unclear who is responsible for the upcoming
Why Does Abeyance Matter?
Courts often deem assets in abeyance when ownership is unclear. People also set up trusts that do not convey assets until thefulfills certain obligations (for instance, no for the grandson until he completes college or reaches age 30).
Personalized Financial Plans for an Uncertain Market
In today’s uncertain market, investors are looking for answers to help them grow and protect their savings. So we partnered with Vanguard Advisers -- one of the most trusted names in finance -- to offer you a financial plan built to withstand a variety of market and economic conditions. A Vanguard advisor will craft your customized plan and then manage your savings, giving you more confidence to help you meet your goals. Click here to get started.
Read This Next
Booking travel is so easy to do, yet all too often we wind up spending more than we wanted. Thank fee-happy airlines for that -- there's no limit to what they'll charge for, from meals to...Read More →
"Price is what you pay. Value is what you get." -- Warren Buffett Putting his finger on this difference between price and value in ...Read More →
Treasury bonds (T-Bonds) are long-term, semiannual bonds issued by the U.S. Treasury. Because they are...Read More →