H

In a deed, a clause that describes the estate granted. It starts with the words, “to have and to hold.” • For example, a habendum clause for a fee simple title states, “to have and to hold the premises herein granted unto the party of the second part, the heirs or successors and assigns of the party of the second part forever.”

Monetary policy: Describes a policy stance that favors higher interest rates to combat inflation. C.f. dovish.

A legal document that gives someone (known as the health care agent) the legal authority to make medical decisions on the principal’s behalf after a severe injury or illness.

A person who is entitled to inherit under the default intestacy statutes in the absence of an estate plan. Heirs are determined when someone dies. “Typically, heirs are limited to persons who are descendants, ancestors, or collaterals of the intestate, but intestate’s spouse, who is typically not an heir, may be entitled to some portion of the intestate’s estate.” Cornelius J. Moynihan & Sheldon F. Kurtz, Introduction to the Law of Real Property 31 n.37 (7th ed. 2020). • At common law, heirs inherited real property. See Jones v. Kelly, 13 N.E. 443 (N.Y. Ct. Appeals 1902). • See the definitions of collateral heirs, escheat, “laughing” heir, lineal ancestors, and lineal descendants. C.f. next of kin.

“[A]nyone with investible assets of $1 million and above, excluding their primary residence . . . .” They include “millionaires next door”, midtier millionaires, and ultra-high-net-worth individuals. Quentin Fottrell, ‘We’ve never seen this before’: Millionaires are doing something unusal to preserve their wealth–and you can do the same, MarketWatch, June 28, 2023 (Apple News link). • “Edward Jones Generations will include financial planning and investment management, focusing on clients with at least $10 million in investable assets. Representatives from Ernst & Young and the law firm Husch Blackwell will help Edward Jones’ financial advisors with tax and legal issues.” Patrick Donachie, Edward Jones Launches New Model Focused on HNW Clients, WealthManagment.com, March 12, 2025.

See junk bonds.

A will that is handwritten. See, e.g., North Dakota Supreme Court: Holographic Will Not Valid When Material Portions Not Proven To Be In Decedent’s Handwriting, Probate Stars, Jan. 11, 2022.

In medieval times, a ceremony in which a vassal knelt before a lord, acknowledged himself to be his lord’s man, and swore allegiance to the lord. Frequently, the lord made a grant of land to the vassal or gave the vassal an annuity. • Homage was an incident to tenure by knight service, but it became obsolete when knight service changed from actual military service to a monetary obligation. See fealty, feudalism.

In medieval times, a larger baronial estate of a lord, which was comprised of numerous smaller estates that were held by different people. • “As many as 80 English estates, situated in different regions, were combined to compose a single lord’s honour. In the course of the Norman settlement, several thousand smaller estates were compressed into fewer than 200 major honours. The lords of these honours were the men who, with William, established the new English state.” Cornelius J. Moynihan & Sheldon F. Kurtz, [Introduction to the Law of Real Property 2 (7th ed. 2020) (affiliate link)](https://www.amazon.com/Introduction-Historical-Background-Application-Hornbooks-ebook-dp-B084Q17HSQ/dp/B084Q17HSQ?encoding=UTF8&me=&qid: 1650114347&linkCode=ll1&tag=wteinfo-20&linkid: 1dcb02bc9a77096c0a8a8dac4bd504df&language=en_US&ref=as_li_ss_tl). • See Norman Conquest.

“Some owners [of digital assets] use the services of a hosted wallet provider that stores their public and private keys. A hosted wallet provider may also maintain balance information, provide cybersecurity services, and facilitate the owners’ ability to own, and conduct transactions using, digital assets. These services may also include providing owners with online platforms that directly link owners to third party services that allow owners to buy and sell digital assets held in their hosted wallets.” Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions, Proposed Rule by the IRS, Aug. 2023. See digital asset account and digital assets. C.f. unhosted wallet.

Having one’s body turned into soil after death. • In 2019, Washington was the first state to legalize human composting. Other states that allow it are California, Colorado, Oregon, New York, and Vermont. See James FitzGerald, New York approves composting of human bodies, BBC News (Apple News link).

A self-settled domestic asset protection trust where the grantor is not one of the initial beneficiaries, but the trust has someone acting in a non-fiduciary capacity who is given a limited right to add new beneficiaries—one of which is the trust’s settlor. See DAPT, self-settled trust.