Amboy Estate Lawyer, Illinois

A federal law passed to protect pension rights. ERISA: sets minimum standards for pension plans, guaranteeing that pension rights cannot be unfairly denied to or taken from a worker provides some protection for workers in the event certain types of pension plans cannot pay the benefits to which workers are entitled, and requires that employers provide full and clear information about employees' pension rights, including the way pension benefits accumulate, how the company invests pension funds, and when and how pension benefits can be collected.

A probate proceeding conducted in a different state from the one the deceased person resided in at the time of death. Usually, ancillary probate proceedings are necessary if the deceased person owned real estate in another state.

An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male or female, this person is called the administrator.

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.

Someone appointed by a judge to oversee the affairs of an incapacitated person. A conservator who manages financial affairs is often called a 'conservator of the estate.' One who takes care of personal matters, such as healthcare and living arrangements, is known as a 'conservator of the person.' Sometimes, one conservator is appointed to handle all these tasks. Depending on where you live, a conservator may also be called a guardian, committee or curator.