The term is often described as having originated in Renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment

Assets left to any other heir, including the decedent's children, may be taxed if that portion of the estate has a value in excess of the lifetime gift, estate, and generation-skipping transfer tax exemption amount

Benefactors would convey land for the use of the friars to a suitable local person (the feoffee) to hold legal fee simple title, while promising to allow the friars to live on and receive the profits of the land

In the context of the unincorporated reciprocal inter-insurance exchange (URIE) the attorney-in-fact is a stakeholder/trustee who takes custody of the subscriber funds placed on deposit with him, and then uses those funds to pay insurance claims

The probated will then becomes a legal instrument that may be enforced by the executor in the law courts if necessary