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allodium


noun

1.  an estate held in absolute ownership, without acknowledgement to a superior.

Definition of alodium

1: a form of estate among 11th century Anglo-Saxons in which absolute possession and control were vested in the holder —opposed to feodum

2 usually allodium: land that is the absolute property of the owner : real estate held in absolute independence without being subject to any rent, service, or acknowledgment to a superior

Fee Simple Absolute Estate

When a person owns a fee simple absolute estate interest, that person has the absolute right to use the land, possess it, dispose of it (through sale, will, gift, or in any other manner), and even damage it. In short, a fee simple absolute estate interest is the greatest and highest property ownership estate recognized by United States law. There are no restrictions on the fee simple absolute estate interest. The estate does not terminate automatically, and there is no event that will cause ownership of the property to revert back to the grantor.

The term ”fee simple absolute” was coined because this estate in land never automatically terminates. In fact, the estate right can survive throughout the entire life of the property owner and then be transferred to the heirs of the property owner after his or her death. The fee simple absolute ownership interest also allows for a property owner to convey the accompanying water rights, convey the accompanying mineral interests, or grant an easement right across the land.

What Is an Irrevocable Trust?

The term irrevocable trust refers to a type of trust where its terms cannot be modified, amended, or terminated without the permission of the grantor’s beneficiary or beneficiaries. The grantor, having effectively transferred all ownership of assets into the trust, legally removes all of their rights of ownership to the assets and the trust.

Irrevocable trusts are generally set up to minimize estate taxes, access government benefits, and protect assets. This is in contrast to a revocable trust, which allows the grantor to modify the trust, but loses certain benefits such as creditor protection.

How an Irrevocable Trust Works

Irrevocable trusts are primarily set up for estate and tax considerations. That’s because it removes all incidents of ownership, removing the trust’s assets from the grantor’s taxable estate. It also relieves the grantor of the tax liability on the income generated by the assets.12 While the tax rules vary between jurisdictions, the grantor can’t receive these benefits if they are the trustee. The assets held in the trust can include (but are not limited to) a business, investment assets, cash, and life insurance policies.

Trusts have an important place in estate and legacy planning. But there is a downside: the cost. Setting up any type of trust can be complicated enough that an attorney is necessary. And this means that people may end up spending a few thousand dollars or more in attorney fees to set them up.

Irrevocable trusts are especially useful to individuals who work in professions that may make them vulnerable to lawsuits, such as doctors or attorneys. Once an asset is transferred to such a trust, it is owned by the trust for the benefit of its beneficiaries. Therefore, it is safe from legal judgments and creditors since the trust will not be a party to any lawsuit.

Today’s irrevocable trusts come with many provisions that were not commonly found in older versions of these instruments. These additions allow for much greater flexibility in trust management and distribution of assets. Provisions such as decanting, which allows a trust to be moved into a newer trust with more modern or advantageous provisions, can ensure that the trust assets will be managed effectively. Other features that allow the trust to change its state of domicile can provide additional tax savings or other benefits.

iatrogenics

Iatrogenesis is the causation of a disease, a harmful complication, or other ill effect by any medical activity, including diagnosis, intervention, error, or negligence. First used in this sense in 1924, the term was introduced to sociology in 1976 by Ivan Illich, alleging that industrialized societies impair quality of life by overmedicalizing life. Iatrogenesis may thus include mental suffering via medical beliefs or a practitioner’s statements. Some iatrogenic events are obvious, like amputation of the wrong limb, whereas others, like drug interactions, can evade recognition. In a 2013 estimate, about 20 million negative effects from treatment had occurred globally. In 2013, an estimated 142,000 persons died from adverse effects of medical treatment, up from an estimated 94,000 in 1990.

Treaty of Córdoba

1821 treaty ending the Mexican War of Independence

The Treaty of Córdoba established Mexican independence from Spain at the conclusion of the Mexican War of Independence. It was signed on August 24, 1821 in Córdoba, Veracruz, Mexico. The signatories were the head of the Army of the Three Guarantees, Agustín de Iturbide, and, acting on behalf of the Spanish government, Jefe Político Superior Juan O’Donojú. The treaty has 17 articles, which developed the proposals of the Plan of Iguala. The Treaty is the first document in which Spanish and Mexican officials accept the liberty of what will become the First Mexican Empire, but it is not today recognized as the foundational moment, since these ideas are often attributed to the Grito de Dolores. The treaty was rejected by the Spanish government, publishing this determination in Madrid on February 13 and 14, 1822.

https://en.wikipedia.org/wiki/Treaty_of_C%C3%B3rdoba