Big Pine Key Estate Planning Lawyer, Florida

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Timmy McClain
About | Practice Areas
McClain Law Firm, PA
P.O. Box 536387 Orlando, FL 32853» view map
Estate Law
A Law Firm That Cares

Let McClain Law Firm, PA handle all your Estate Planning needs today!

800-908-6270
1. Timmy McClain Orlando, FL
  Attorney at Law, FL
  Barry University School of Law, J.D. 2002
2. AboutMcClain Law Firm, PA
  A Law Firm That Cares
3. Practice AreasExpertise
  Estate Law
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Includes: Gift Taxation

Cara Anne Higgins

Construction, Estate Planning, Criminal, Administrative Law

Status: In Good Standing

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608 Whitehead Street, Key West, FL 33040

Lee Robert Rohe

Commercial Real Estate, Immigration, Federal Trial Practice, Estate Planning

Status: In Good Standing Licensed: 46 Years

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Summerland Key, FL 33043

David Lawrence Manz

Gift Taxation, Family Law, Child Custody, Property & Casualty

Status: In Good Standing Licensed: 40 Years

CONTACT

5701 Overseas Hwy, Marathon, FL 33050

Christopher Benedict Waldera

International Tax, Government, Estate Planning, Business

Status: In Good Standing Licensed: 35 Years

CONTACT

5800 Overseas Hwy, Marathon, FL 33050

Thomas Dickinson Wright

Commercial Real Estate, Estate Planning

Status: In Good Standing

CONTACT

9711 Overseas Hwy, Marathon, FL 33050

Robert Kenneth Miller

Estate Planning, Child Custody, Elder Law, Commercial Real Estate, Trusts

Status: In Good Standing Licensed: 42 Years

CONTACT

10075 Overseas Hwy, Marathon, FL 33050

Lesley Ann Rhyne

Commercial Real Estate, Estate Planning, Family Law, Business

Status: In Good Standing Licensed: 35 Years

CONTACT

10075 Overseas Hwy, Marathon, FL 33050

Michael D. Solomon

Real Estate, Litigation, Estate Planning, Family Law

Status: In Good Standing Licensed: 48 Years

CONTACT

106 Bimini Drive, Marathon, FL 33050

William Blackburn Spottswood

Commercial Real Estate, International Tax, Estate Planning, Business

Status: In Good Standing Licensed: 42 Years

CONTACT

42 Floral Ave, Key West, FL 33040

William Blackburn Spottswood

Commercial Real Estate, International Tax, Estate Planning, Business

Status: In Good Standing

CONTACT

42 Floral Ave, Key West, FL 33040

800-923-0641

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LEGAL TERMS

TITLE COMPANY

A company that issues title insurance.

ABATEMENT

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other exp... (more...)

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other expenses. Gifts left in the will are cut back in order to pay taxes, satisfy debts or take care of other gifts that are given priority under law or by the will itself.

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.

ACCUMULATION TRUST

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nic... (more...)

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.

HEIR APPARENT

One who expects to be receive property from the estate of a family member, as long as she outlives that person.

TRUST MERGER

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.

GRANTOR RETAINED INCOME TRUST

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for ... (more...)

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years. When the trust ends, the property goes to the final beneficiaries you've named. These trusts are for people who have enough wealth to feel comfortable giving away a substantial hunk of property. They come in three flavors: Grantor-Retained Annuity Trusts (GRATs), Grantor-Retained Unitrusts (GRUTs) and Grantor-Retained Income Trusts (GRITs).

IN TERROREM

Latin meaning 'in fear.' This phrase is used to describe provisions in contracts or wills meant to scare a person into complying with the terms of the agreement... (more...)

Latin meaning 'in fear.' This phrase is used to describe provisions in contracts or wills meant to scare a person into complying with the terms of the agreement. For example, a will might state that an heir will forfeit her inheritance if she challenges the validity of the will. Of course, if the will is challenged and found to be invalid, then the clause itself is also invalid and the heir takes whatever she would have inherited if there were no will.

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.

SAMPLE LEGAL CASES

Brundage v. Bank of America

... disputed transfers from the trust. Dorothy Gutsgell and her husband, who had no children of their own, executed a series of estate planning documents, using the law firm of Ruden McClosky for their planning. In 1992 Dorothy, as ...

Yang Enterprises, Inc. v. Georgalis

... Petitioners filed suit against Respondent for trade secret theft, tortious interference with a business relationship, and trade libel. In 1999, Petitioners retained Anthony Palma, an attorney in Broad and Cassel's Orlando office, for estate planning services. ...

Wheeler v. Powers

... In 2000, Dorothy L. Powers and her husband, Albert Powers, retained Kenneth B. Wheeler, an estates and trust attorney, to prepare estate planning documents. ... [1]. On December 20, 2004, Dorothy created several new estate planning documents through a different attorney. ...

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Big Pine Key Estate Planning Lawyer, Florida

Sponsored Law Firm

McClain Law Firm, PA

SPONSORED LAWYERS

Cara Anne Higgins

Lee Robert Rohe

David Lawrence Manz

Christopher Benedict Waldera

Thomas Dickinson Wright

Robert Kenneth Miller

Lesley Ann Rhyne

Michael D. Solomon

William Blackburn Spottswood

William Blackburn Spottswood

TIPS

LEGAL TERMS

TITLE COMPANY

ABATEMENT

GENERATION-SKIPPING TRANSFER TAX

ACCUMULATION TRUST

HEIR APPARENT

TRUST MERGER

GRANTOR RETAINED INCOME TRUST

IN TERROREM

GENERATION-SKIPPING TRUST

SAMPLE LEGAL CASES

Brundage v. Bank of America

Yang Enterprises, Inc. v. Georgalis

Wheeler v. Powers

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