Faribault Estate Lawyer, Minnesota

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Rebecca Moore

Bankruptcy, Estate Planning, Litigation, Business
Status:  In Good Standing           

Jason P. Hoffman

Estate Planning, Trusts, Wills & Probate
Status:  In Good Standing           

John M. Lundblad

Estate Planning, Health Care Other, Mediation, Power of Attorney
Status:  In Good Standing           

Melissa Novak

Power of Attorney, Health Care Other, Estate Planning, Child Custody
Status:  In Good Standing           

Gregory Carlson

Trusts, Business, Title Insurance, Business & Trade
Status:  In Good Standing           

David William Jacobsen

Real Estate, Trusts, Estate, Wrongful Termination, Criminal
Status:  In Good Standing           

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Free Help: Use This Form or Call 800-943-8690

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LEGAL TERMS

TITLE COMPANY

A company that issues title insurance.

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.

HEIR AT LAW

A person entitled to inherit property under intestate succession laws.

DEATH TAXES

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who... (more...)
Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who inherit property.

TRUSTEE POWERS

The provisions in a trust document defining what the trustee may and may not do.

SPECIFIC BEQUEST

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequ... (more...)
A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequest fails. In other words, the beneficiary cannot substitute a similar item in the estate. Example: If John leaves his 1954 Mercedes to Patti, and when John dies the 1954 Mercedes is long gone, Patti doesn't receive John's current car or the cash equivalent of the Mercedes. See ademption.

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.

BEQUEATH

A legal term sometimes used in wills that means 'leave' -- for example, 'I bequeath my garden tools to my brother-in-law, Buster Jenkins.'

INTESTATE SUCCESSION

The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest s... (more...)
The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest surviving relatives. In most states, the surviving spouse, children, parents, siblings, nieces and nephews, and next of kin inherit, in that order.