Faribault County, MN Trusts Lawyers, page 3

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Richard Morris
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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
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Joseph R Gadola

General Practice

Status: Inactive Licensed: 71 Years

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Wells, MN 56097

Charles K Frundt

General Practice

Status: Retired Licensed: 57 Years

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117 West Fifth Street, Blue Earth, MN 56013

Robert L Hammond

General Practice

Status: Suspended Licensed: 49 Years

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123 W 7Th Street, Blue Earth, MN 56013

John W Schindler

General Practice

Status: Retired Licensed: 63 Years

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351 10Th Street S.E., Wells, MN 56097

Rita Mcgill Vondracek

General Practice

Status: Inactive Licensed: 25 Years

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195 1St Street Sw, Wells, MN 56097

W Ward Smith

General Practice

Status: Suspended Licensed: 73 Years

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Bricelyn, MN 56014

James M Loonan

General Practice

Status: Suspended Licensed: 65 Years

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Easton, MN 56025

800-923-0641

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LEGAL TERMS

FAMILY ALLOWANCE

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to ... (more...)

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to help support the surviving spouse and children during the time it takes to probate the estate. The amount is determined by state law and varies greatly from state to state.

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.

POWER OF APPOINTMENT

The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust o... (more...)

The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust only according to the terms of the trust, but a trustee with a power of appointment can choose the beneficiaries, sometimes from a list of candidates specified by the grantor. For example, Karin creates a trust with power of appointment to benefit either the local art museum, symphony, library or park, depending on the trustee's assessment of need.

TRUSTEE

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income ... (more...)

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income or principal as directed in the trust document. With a simple probate-avoidance living trust, the person who creates the trust is also the trustee.

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.

INTESTATE

The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.

EXEMPTION TRUST

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth m... (more...)

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest is shielded from tax under the surviving spouse's marital deduction.

KINDRED

Under some state's probate codes, all relatives of a deceased person.

PUBLIC ADMINISTRATOR

Someone appointed by a probate court to oversee probate proceedings when a person dies without a will or heirs, and his or her property is expected to pass to t... (more...)

Someone appointed by a probate court to oversee probate proceedings when a person dies without a will or heirs, and his or her property is expected to pass to the state. Some states have public administrators who are responsible for temporarily preserving the assets of an estate if there are disputes about specific provisions in the will or about who will be appointed the regular administrator.

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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Faribault County, MN Trusts Lawyers, page 3

Sponsored Law Firm

Morris Law Group PA

SPONSORED LAWYERS

Joseph R Gadola

Charles K Frundt

Robert L Hammond

John W Schindler

Rita Mcgill Vondracek

W Ward Smith

James M Loonan

TIPS

LEGAL TERMS

FAMILY ALLOWANCE

INHERITANCE TAXES

POWER OF APPOINTMENT

TRUSTEE

QTIP TRUST

INTESTATE

EXEMPTION TRUST

KINDRED

PUBLIC ADMINISTRATOR

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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