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grandfather |
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(a) grandfather clause a clause in an agreement that protects certain rights granted in the past even when conditions change in the future. The contract contained a grandfather clause that protected my pension payments against claims such as might arise from a future lawsuit. grandfather someone or something in to protect someone or a right through the use of a grandfather clause. My payments were grandfathered in years ago. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The estate, however, did not list this property as subject to GSTT, taking the position that such property was transferred under a grandfathered GSTT-exempt trust pursuant to TRA '86 Section 1433(b)(2)(A). Often these shredders are operating on grandfathered permits that also allow the customer to upgrade his shredding system without getting local or state authorities involved in new permits. Plan sponsors also must act by yearend if they wish to terminate grandfathered plans or allow service providers to cancel a deferral election or terminate participation in the plan. |
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