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Delavan Wills & Probate Lawyer, Minnesota

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Includes: Estate Administration, Living Wills, Wills

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Michael H. Kennedy

Wills & Probate, Estate Planning, Family Law, Personal Injury
Status:  In Good Standing           
CONTACT
99 Navaho Avenue, Mankato, MN 56002
Profile LAWPOINTS™29/100
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Marcus J. Christianson

Wills, Wills & Probate, Personal Injury, Medical Malpractice
Status:  In Good Standing           Licensed:  46 Years
CONTACT
151 Saint Andrews Court, Mankato, MN 56001
Profile LAWPOINTS™34/100
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LEGAL TERMS

HEIR APPARENT

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

SPRINKLING TRUST

A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

DISINHERIT

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit prope... (more...)
To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit property -- a close family member, for example -- should not receive it. In most states, you cannot completely disinherit your spouse; a surviving spouse has the right to claim a portion (usually one-third to one-half) of the deceased spouse's estate. With a few exceptions, however, you can expressly disinherit children.

ENDOWMENT INSURANCE

Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death.... (more...)
Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death. If the policy-holder dies sooner, the beneficiary named in the policy receives the proceeds.

CREDIT SHELTER TRUST

See AB trust.

SURVIVING SPOUSE'S TRUST

If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.

CHARITABLE TRUST

Any trust designed to make a substantial gift to a charity and also achieve income and estate tax savings for the person who creates the trust (the grantor).

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.

ADMINISTRATION (OF AN ESTATE)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. I... (more...)
The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. If not, the court appoints someone, who is generally known as the administrator. In some states, the person is called the 'personal representative' in either instance.

SAMPLE LEGAL CASES

SOMSEN, MUELLER v. Estates of Olsen

... The decedents' personal representative hired respondent Somsen, Mueller, Lowther & Franta PA (the law firm) to probate the decedents' estates. ... But the probate code treats secured claims differently from unsecured claims. See Minn. Stat. ...

In re Beachside I Homeowners Ass'n

... FACTS. On May 28, 1991, Florence Schafer registered a certificate of title to Torrens property located on Beachside Drive in Minnetonka (the property). She died intestate on December 9, 2001, and probate proceedings were never initiated. ...

Botler v. Wagner Greenhouses

... the insurer or self-insured employer is obligated under the Workers' Compensation Act to pay (a) "reasonable compensation to an individual or corporate fiduciary for providing guardianship or conservatorship services" and (b) "the costs of an annual accounting to Probate Court ...

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