Clay County, MN Trusts Lawyers, page 2

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Richard Morris
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Morris Law Group PA
7380 France Ave S. Suite 250 Edina, MN 55435» view map
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1. Richard Morris Edina, MN
  Attorney at Law- MN, 1974
  William Mitchell College of Law, J.D.
2. AboutMorris Law Group PA
  We Are Experts In What We Do
3. Practice AreasExpertise
  Accident & Injury
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Amber Beth Gustafson

General Practice

Status: In Good Standing Licensed: 16 Years

CONTACT

807 11Th Street N, Moorhead, MN 56560

Timothy John Mclarnan

Real Estate, Traffic, Lawsuit, Copyright

Status: In Good Standing Licensed: 39 Years

CONTACT

730 Center Ave., Moorhead, MN 56561

Randolph E Stefanson

Accident & Injury, Estate, Business, Real Estate, Lawsuit & Dispute

Status: In Good Standing Licensed: 62 Years

CONTACT

403 Center Ave, Moorhead, MN 56560

Whitney Marie Irish

Industry Specialties, Estate, Divorce & Family Law

Status: In Good Standing

CONTACT

215 30Th St N, Glyndon, MN 56561

Corey Ray Elmer

Real Estate, Corporate Governance, Corporate

Status: In Good Standing

CONTACT

215 30Th St N, Glyndon, MN 56561

Corey Ray Elmer

Education, Transactions, Corporate, Business

Status: In Good Standing Licensed: 22 Years

CONTACT

215 30Th St N, Glyndon, MN 56561

Kenneth J Norman

Corporate, Administrative Law

Status: In Good Standing Licensed: 50 Years

CONTACT

403 Center Ave, Glyndon, MN 56561

Valeska A. Hermanson

Estate, Wills & Probate, Elder Law, Adoption

Status: In Good Standing Licensed: 25 Years

CONTACT

Glyndon, MN 56561

Whitney Marie Irish

Industry Specialties, Estate

Status: In Good Standing Licensed: 12 Years

CONTACT

215 30Th St N, Glyndon, MN 56561

James Todd Martens

General Practice

Status: Inactive Licensed: 38 Years

CONTACT

1422 23Rd Ave S, Glyndon, MN 56560

800-923-0641

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LEGAL TERMS

INHERITANCE TAXES

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited prop... (more...)

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited property.

QTIP TRUST

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the... (more...)

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.

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.

LIVING TRUST

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the t... (more...)

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the trust during your life passes directly to the trust beneficiaries after you die, without court involvement. The successor trustee--the person you appoint to handle the trust after your death--simply transfers ownership to the beneficiaries you named in the trust. Living trusts are also called 'inter vivos trusts.'

OFFICER

A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operation... (more...)

A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operations of the organization. Officers generally hold titles such as President or Treasurer. Many states and most corporate bylaws or LLC operating agreements require a corporation or LLC to have a president, secretary and treasurer. Election of a vice president may be required by state law.

LAPSE

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. S... (more...)

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. Some states have anti-lapse statutes, which prevent gifts to relatives of the deceased person from lapsing unless the relative has no heirs of his or her own. A lapsed gift becomes part of the residuary estate.

FINAL BENEFICIARY

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jan... (more...)

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jane receives income for the duration of her life. Their daughter, the final beneficiary, receives the trust principal after Jane's death.

INCOMPETENCE

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at ... (more...)

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at which the person is present and/or represented by an attorney. A finding of incompetence may lead to the appointment of a conservator to manage the person's affairs. Also known as 'incompetency.'

INTER VIVOS TRUST

The Latin name, favored by some lawyers, for a living trust. 'Inter vivos' is Latin for 'between the living.'

SAMPLE LEGAL CASES

US BANK NA v. Cold Spring Granite Co.

... Thomas Moore, Ann McCabe, and US Bank (Moores) are trustees of eight appellant family trusts (Moore Trusts) that brought suit against respondent Cold Spring Granite Company (CSG) and its chairman and CEO respondent Patrick D. Alexander after CSG stock belonging to ...

IN RE ROSCKES v. County of Carver

... intent to limit Medicaid to the financially needy, many individuals exploited a loophole in the Medicaid statute allowing them to attain Medicaid eligibility while preserving assets for their heirs by transferring their assets to irrevocable Medicaid-qualifying trusts (MQTs). ...

Swenson v. Bender

... Carlson v. SALA Architects, Inc., 732 NW2d 324, 331 (Minn.App.2007), review denied (Minn. Aug. 21, 2007). Fiduciary relationships arise when one person trusts and confides in another who has superior knowledge and authority. Id. at 330. ...

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Clay County, MN Trusts Lawyers, page 2

Sponsored Law Firm

Morris Law Group PA

SPONSORED LAWYERS

Amber Beth Gustafson

Timothy John Mclarnan

Randolph E Stefanson

Whitney Marie Irish

Corey Ray Elmer

Corey Ray Elmer

Kenneth J Norman

Valeska A. Hermanson

Whitney Marie Irish

James Todd Martens

TIPS

LEGAL TERMS

INHERITANCE TAXES

QTIP TRUST

PER STIRPES

LIVING TRUST

OFFICER

LAPSE

FINAL BENEFICIARY

INCOMPETENCE

INTER VIVOS TRUST

SAMPLE LEGAL CASES

US BANK NA v. Cold Spring Granite Co.

IN RE ROSCKES v. County of Carver

Swenson v. Bender

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