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Auburndale Trusts Lawyer, Florida, page 3

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Scott Hays Langston

Real Estate, Wills & Probate, Trusts, Elder Law
Status:  In Good Standing           Licensed:  46 Years
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The Law Office of Scott Langston, Lakeland, FL 33802
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David Scott Bergdoll

Trusts, Elder Law, Corporate, Personal Injury
Status:  In Good Standing           Licensed:  48 Years
CONTACT
4827 Celia Cir E, Lakeland, FL 33813
Profile LAWPOINTS™24/100
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Cedric Eugene Lewis

Bankruptcy, Civil Rights, Family Law, Trusts
Status:  In Good Standing           Licensed:  24 Years
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631 Heather Glen Loop, Winter Haven, FL 33884
Profile LAWPOINTS™34/100
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LEGAL TERMS

PRETERMITTED HEIR

A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child b... (more...)
A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child born or adopted after the will is made may be deemed a pretermitted heir. If the court determines that an heir was accidentally omitted, that heir is entitled to receive the same share of the estate as she would have if the deceased had died without a will. A pretermitted heir is sometimes called an 'omitted heir.'

FUNDING A TRUST

Transferring ownership of property to a trust.

PERSONAL PROPERTY

All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, p... (more...)
All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, patents, pets and season baseball tickets are all examples of personal property. Personal property may also be called personal effects, movable property, goods and chattel, and personalty. Compare real estate.

PER STIRPES

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living children of his or her own. F... (more...)
Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living children of his or her own. For example, Fred leaves his house jointly to his son Alan and his daughter Julie. But Alan dies before Fred, leaving two young children. If Fred's will states that heirs of a deceased beneficiary are to receive the property 'per stirpes,' Julie will receive one-half of the property, and Alan's two children will share his half in equal shares (through Alan by right of representation). If, on the other hand, Fred's will states that the property is to be divided per capita, Julie and the two grandchildren will each take a third.

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.

PROVING A WILL

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily sat... (more...)
Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily satisfies by showing that the will was signed and dated by the deceased person in front of two or more witnesses. When the will is holographic -- that is, completely handwritten by the deceased and not witnessed, it is still valid in many states if the executor can produce relatives and friends to testify that the handwriting is that of the deceased.

CURATOR

See conservator.

GENERATION-SKIPPING TRANSFER TAX

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 ... (more...)
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.

CERTIFICATION OF TRUST

See abstract of trust.

SAMPLE LEGAL CASES

Doe v. Doe

... [1] The trusts administered by the Trustees include class gifts to the grandchildren of the settlors, Chester P. Doe, Jr. (Chester Jr.) and Eleanor Warren Doe (Eleanor). ... I. THE FACTS. A. The Trusts. On June 28, 1988, Chester Jr. ...

Parker v. Shullman

... Each of these trusts had sub-trusts for her daughter Lauri and granddaughter Cassie. Barbara designated 645 Shullman as the successor trustee of all of the trusts. ... When Barbara died, Shullman became trustee of the trusts. ...

Timmons v. Ingrahm

... In his will, Frank Sr. created two trusts: the Timmons Family Trust ("Family Trust") and the Timmons Marital Trust ("Marital Trust"). [1] The Timmons Family Trust was valued at $650,000. ... Myrtle was the sole income beneficiary of the trusts during her lifetime. ...

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