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Dearing Trusts Lawyer, Georgia

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James M Thomas

Real Estate, Wills & Probate, Trusts, Family Law
Status:  In Good Standing           Licensed:  51 Years
CONTACT
217 Davis Rd, Augusta, GA 30907
Profile LAWPOINTS™22/100
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Vincent M Davison Jr.

Real Estate, Wills & Probate, Trusts, Bankruptcy
Status:  In Good Standing           Licensed:  48 Years
CONTACT
3744 Walton Way, Augusta, GA 30907
Profile LAWPOINTS™24/100
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James C Folk

Real Estate, Wills & Probate, Trusts, Elder Law
Status:  Retired           Licensed:  51 Years
CONTACT
3714 Executive Center Dr, Augusta, GA 30907
Profile LAWPOINTS™17/100
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LEGAL TERMS

DISTRIBUTEE

(1) Anyone who receives something. Usually, the term refers to someone who inherits a deceased person's property. If the deceased person dies without a will (ca... (more...)
(1) Anyone who receives something. Usually, the term refers to someone who inherits a deceased person's property. If the deceased person dies without a will (called intestate), state law determines what each distributee will receive. Also called a beneficiary.

REAL ESTATE AGENT

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must hav... (more...)
A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must have a state license and be supervised by a real estate broker. Most agents are completely dependent upon commissions from sellers for their income, so it pays to find out which side the agent represents (buyer, seller or both) before you place too much trust in the agent's opinion.

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.

MARITAL LIFE ESTATE TRUST

See AB trust.

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.

INVENTORY

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or admini... (more...)
A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or administrator of the estate is responsible for making and filing the inventory.

TRUST CORPUS

Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, t... (more...)
Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, that money is the corpus. Sometimes the trust corpus is known as the 'res,' a Latin word meaning 'thing.'

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.

SUCCESSOR TRUSTEE

The person or institution who takes over the management of trust property when the original trustee has died or become incapacitated.

SAMPLE LEGAL CASES

Cronic v. Baker

... Subsequently, the Attorney General of Georgia brought suit against Cronic in superior court, contending that both Item III(4) and III(5) of the Will created charitable trusts and that Cronic breached his fiduciary duties by failing to fully fund them. ...

Hood v. Todd

... trustee of the respective residuary trust established for her benefit. No other trustees of any other potential trusts (other than a successor trustee) are named. Todd claims to be Buffington's biological daughter, asserting that she ...

PRICEWATERHOUSECOOPERS, LLP v. Bassett

... A Cobb County jury returned a $10 million verdict in favor of William Bassett as the trustee for four private trusts in the trusts' claim for negligent misrepresentation against the accounting firm Pricewaterhouse-Coopers, LLP ("PwC"), as the successor to Coopers & Lybrand, LLP ...

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