Albert Trusts Lawyer, Kansas
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Glenn Opie
Real Estate, Industry Specialties, Wills & Probate, Trusts
Status: Deceased Licensed: 70 Years
2015 Forest Ave, Great Bend, KS 67530
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824 Washington St, Ellis, KS 67637
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LEGAL TERMS
FAILURE OF ISSUE
A situation in which a person dies without children who could have inherited her property.
PROPERTY CONTROL TRUST
Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who ha... (more...)
Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who have special physical, emotional or other requirements, (2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and (3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.
GENERATION-SKIPPING TRUST
A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income fro... (more...)
A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income from the trust. Because the children (the middle generation) never legally own the property, it isn't subject to estate tax at their death. See generation-skipping transfer tax.
SUMMARY PROBATE
A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are ... (more...)
A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are complicated, but a few examples include estates worth up to $100,000 in California; New York estates where property, excluding real estate and amounts that must be set aside for surviving family members, is worth $20,000 or less; and Texas estates where the value of property doesn't exceed what is needed to pay a family allowance and certain creditors.
PETITION
A formal written request made to a court, asking for an order or ruling on a particular matter. For example, if you want to be appointed conservator for an elde... (more...)
A formal written request made to a court, asking for an order or ruling on a particular matter. For example, if you want to be appointed conservator for an elderly relative, you must file a petition with a court. See also complaint.
NET ESTATE
The value of all property owned at death less liabilities or debts.
CURATOR
See conservator.
SELF-PROVING WILL
A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-prov... (more...)
A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-proving when two witnesses sign under penalty of perjury that they observed the willmaker sign it and that he told them it was his will. If no one contests the validity of the will, the probate court will accept the will without hearing the testimony of the witnesses or other evidence. To make a self-proving will in other states, the willmaker and one or more witnesses must sign an affidavit (sworn statement) before a notary public certifying that the will is genuine and that all willmaking formalities have been observed.
TRUST CORPUS
Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, t... (more...)
Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, that money is the corpus. Sometimes the trust corpus is known as the 'res,' a Latin word meaning 'thing.'
SAMPLE LEGAL CASES
IN RE TRUST D UNDER LAST WILL OF DARBY
... 3017. FACTUAL OVERVIEW. On July 15, 1986, Darby executed his last will and testament,
which established several trusts for the benefit of his daughters and sister. ... beneficiaries.
See Restatement Third, Trusts § 66, comment b, p. 494. ...
In re Wonder
... good friend. In pertinent part, the will provided: "I appoint Robert E. Wonder, my
attorney, of Leawood, Kansas and my brother, Patrick Michael Dowling of Olathe,
Kansas as Co-Trustees of the trusts herein created. If either or ...
EGGESON v. DeLUCA
... After Barbara signed a durable power of attorney in 1997 allowing John to create a revocable
trust with dispositive provisions "substantially similar" to her 1987 will, John created revocable
trusts for both him and Barbara that contained virtually the same asset distribution plan to ...
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