Amity Estate Planning Lawyer, Arkansas
Includes: Gift Taxation
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Tiffany Tucker
Limited Liability Companies, Power of Attorney, Estate, Guardianships & Conservatorships
Status: In Good Standing
135 Section Line Rd. C-2, Hot Springs National Park, AR 71913
Profile LAWPOINTS™34/100
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135 Section Line Road, Hot Springs National Park, AR 71913
Profile LAWPOINTS™34/100
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135 Section Line Road, Hot Springs National Park, AR 71913
Profile LAWPOINTS™32/100
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Karen Baim Reagler
Estate Administration, Trusts, Estate, Adoption, Elder Law
Status: In Good Standing
307B Carpenter Dam Road, Hot Springs National Park, AR 71901
Profile LAWPOINTS™34/100
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Eric S. Brock
Medical Products & Devices, Estate, Employment, Bankruptcy
Status: In Good Standing Licensed: 12 Years
110 Woodbine, Hot Springs National Park, AR 71901
Profile LAWPOINTS™32/100
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424 Ouachita Ave., Hot Springs National Park, AR 71901
Profile LAWPOINTS™27/100
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307B Carpenter Dam Rd, Hot Springs National Park, AR 71901
Profile LAWPOINTS™22/100
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Lance Bailey Garner
Power of Attorney, Real Estate, Lawsuit & Dispute, Estate, Insurance
Status: In Good Standing Licensed: 32 Years
209 Hobson Avenue, Hot Springs National Park, AR 71913
Profile LAWPOINTS™22/100
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George Marion Callahan
Contract, Estate Planning, Corporate
Status: In Good Standing Licensed: 57 Years
125 Rockport Lane, Hot Springs National Park, AR 71913
Profile LAWPOINTS™12/100
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Jonathan Joe Martin
Commercial Real Estate, Wills, Business & Trade, Credit & Debt
Status: In Good Standing Licensed: 21 Years
Hot Springs National Park, AR 71902
Profile LAWPOINTS™19/100
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Easily find Amity Estate Planning Lawyers and Amity Estate Planning Law Firms. For more attorneys, search all Estate areas including Trusts, Wills & Probate and Power of Attorney attorneys.
LEGAL TERMS
DEVISEE
A person or entity who inherits real estate under the terms of a will.
RESIDUARY BENEFICIARY
A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leav... (more...)
A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leaving his home to Edwina and the remainder of his property to Elmo, then Elmo is the residuary beneficiary.
GROSS ESTATE
For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)
For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.
EXECUTOR
The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's... (more...)
The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.
STATUTORY SHARE
The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceas... (more...)
The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse's property, but in some states the exact amount of the spouse's share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.
PROBATE COURT
A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate cour... (more...)
A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate court' in New York and several other states, this court normally examines the authenticity of a will -- or if a person dies intestate, figures out who receives her property under state law. It then oversees a procedure to pay the deceased person's debts and to distribute her assets to the proper inheritors. See probate.
LIFE INSURANCE
A contract in which an insurance company agrees to pay money to a designated beneficiary upon the death of the policy holder. In exchange, the policyholder pays... (more...)
A contract in which an insurance company agrees to pay money to a designated beneficiary upon the death of the policy holder. In exchange, the policyholder pays a regularly scheduled fee, known as the insurance premiums. The purpose of life insurance is to provide financial support to those who survive the policyholder, such as family members or business partners. When the policyholder dies, the insurance proceeds pass to the beneficiaries free of probate, though they are counted for federal estate tax purposes. group life insurance Life insurance available through an employer or association that covers participating employees and members under one master insurance policy. Most group life insurance policies are term insurance policies, that terminate when the member or employee reaches a certain age or leaves the organization and do not accumulate any cash surrender value. term life insurance No-frills life insurance, with neither cash surrender value nor loan value (an amount that can be used as collateral for a loan). Term life insurance provides a pre-set amount of coverage if the policyholder dies during the period of time specified in the policy. Policyholders usually have the option to renew at the end of the term for the period of years specified in the policy. Unlike whole life insurance, premiums generally increase as the insured person gets older and the risk of death increases.universal life insurance A type of whole life insurance that offers some additional features and advantages. Like whole life insurance, universal life insurance accumulates cash value through investment of the premium payments. The unique feature of universal life insurance is that it has variable premiums, benefits and payment schedules, all of which are tied to market interest rates and the performance of the investment portfolio. Also, universal life plicies normally provide you with more consumer information. For example, you are told how much of your policy payments goes for insurance company overhead expenses, reserves and policy proceed payments, and how much is retained and invested for your savings. This information isn't usually provided with whole life policies.variable life insurance A type of whole life insurance in which the amount of death benefits varies, depending on the performance of investments. The insurance company places some or all of the fixed premium payments into an investment account; some companies let the insured person decide how the money is invested. The policyholder bears the risk of investment losses, though there is a guaranteed minimum benefit payment. One benefit of variable insurance is that interest and dividend income from the investment account is not taxed until it is paid out to the policyholder.variable universal life insurance A type of whole life insurance that provides greater potential for financial gain--and brings greater risks. Like universal life insurance, variable universal life insurance offers flexible premiums, payment schedules and benefits. But variable universal life policies are riskier because the premiums are invested in stocks, rather than more predictable money market accounts and bonds. Also called universal variable life insurance.whole life insurance Life insurance that provides coverage for the entire life of the policyholder, who pays the same fixed premium throughout his or her life. The policy builds up cash reserves that may be paid out to the policyholder when he or she surrenders or partially surrenders the policy or uses the cash reserves to fund low-interest loans. The annual increase in the cash value of the policy is not taxed. If the policyholder surrenders the policy, a portion of the payment is not taxable. Also called straight life insurance or ordinary life insurance.
REMAINDERMAN
Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderma... (more...)
Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderman because he will inherit the home in the future, after Alma dies.
RULE AGAINST PERPETUITIES
An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For examp... (more...)
An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For example, a person would not be allowed to leave property to her husband for his life, then to her children for their lives, then to her grandchildren. The gift would potentially go to the grandchildren at a point too remote in time.
SAMPLE LEGAL CASES
Sanford v. Murdoch
... [1] As such, documents relevant to her financial and estate planning were in Sanford's
possession. Included ... [3] Morgan then requested that Sanford deliver the financial and
estate planning documents in his possession to her. Sanford ...
Fitton v. Bank of Little Rock
... She maintains that the conveyance of the property to a revocable trust for estate planning purposes
did not destroy her homestead exemption. She also claims that she did not "abandon" her
homestead, under Arkansas law, by conveying her property to a revocable trust. ...
Ashley v. Ashley
... Prior to the decedent's death, his attorney, William Haught, prepared several estate-planning
documents for the decedent, including a will, a family limited-partnership agreement, and
a revocable trust, all of which were executed on April 4, 1997. ...
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