LIFE EVENTS

341 meeting

A 341 meeting is a mandatory meeting held at the beginning of a bankruptcy proceeding. Also referred to as the creditors meeting, its name comes from section 341 of the Bankruptcy Code. The purpose of a 341 meeting is to examine the debtor’s...

341 notice

A 341 notice is the notice sent by the bankruptcy clerk to the debtor, the creditors, and all other interested parties, notifying them of the date, time, and place in which the 341 meeting (creditors meeting) will be held. Among other things...

342 notice

A 342 notice is the notice sent before the commencement of a bankruptcy proceeding by the bankruptcy clerk of the bankruptcy court to the debtor, which contains:

A brief description of chapters 7, 11, 12, and 13 of the Bankruptcy Code...

Ab intestato

Definition

A Latin term meaning "by intestacy." The term refers to laws governing the succession of property after its previous owner dies without a valid will.

AB Trust

AB trust (also called a bypass trust or a credit shelter trust) is a tool used by well-off married individuals to legally maximize their estate tax exemptions.

The strategy involves creating two separate trusts after one...

Abandon

See Abandonment

[Last updated in December of 2021 by the Wex Definitions Team]

Abandonment

Abandonment is a term that applies to a variety of areas of law. These areas include matrimonial law, civil procedure, and property.

Matrimonial Law

In matrimonial law, abandonment is a form of marital misconduct which...

ABC Test

Definition

A test used in some states to determine whether a person is an employee or an independent contractor for the purpose of determining state unemployment tax.

Some courts using this test look at whether a worker meets three separate...

Abduction

Abduction means the taking of a person against their will, generally by means of persuasion, fraud, or force. Some jurisdictions also require that the abductee (the person who is abducted) be a child or that that the abductor intend to marry...

Able to Work

Definition

Capable of employment. A person who is able to work is ineligible to receive unemployment benefits on the basis of illness or injury.

Illustrative case law

See, e.g. International Union, et al. v. Johnson Controls, Inc., 499 U.S. 187 (...

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