Gardendale Wills & Probate Lawyer, Alabama, page 2

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Includes: Estate Administration, Living Wills, Wills

James Robert Gillis

Juvenile Law, Wills, Family Law, Personal Injury
Status:  In Good Standing           

James R. Gillis

Juvenile Law, Wills, Family Law, Personal Injury
Status:  In Good Standing           

Preston Hunter Neel

Commercial Real Estate, Wills, Gift Taxation, Credit & Debt
Status:  In Good Standing           Licensed:  16 Years

Bradley A. Green

Litigation, Wills & Probate, Family Law, Bankruptcy
Status:  In Good Standing           Licensed:  18 Years

Rukeya Lynn McAdory

DUI-DWI, Divorce, Wills & Probate, Estate Planning
Status:  In Good Standing           

Nancy Covington Hughes

Power of Attorney, Estate Administration, Trusts, Estate Planning, Business Successions
Status:  In Good Standing           

G. Alicia Jett

Real Estate, Wills & Probate, Personal Injury, Accident & Injury
Status:  In Good Standing           Licensed:  14 Years

Kurt S. Fischer

Wills, Estate, Estate Planning, Power of Attorney
Status:  In Good Standing           Licensed:  14 Years

Patricia Nell Moore

Estate, Wills & Probate, Elder Law, Trusts
Status:  In Good Standing           Licensed:  43 Years

Phillip James Sarris

Real Estate, Trusts, Wills & Probate
Status:  In Good Standing           Licensed:  61 Years

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LEGAL TERMS

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.

SUCCESSOR TRUSTEE

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

TRUST DEED

The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to... (more...)
The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to a trustee -- often a title company -- who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.

DEED OF TRUST

See trust deed.

ACCUMULATION TRUST

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nic... (more...)
A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.

GENERATION-SKIPPING TRANSFER TAX

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 ... (more...)
A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.

RESIDUARY ESTATE

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court c... (more...)
The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court costs are paid. The residuary estate also includes any gifts under a will that fail or lapse. For example, Connie's will leaves her house and all its furnishings to Andrew, her VW bug to her friend Carl, and the remainder of her property (the residuary estate) to her sister Sara. She doesn't name any alternate beneficiaries. Carl dies before Connie. The VW bug becomes part of the residuary estate and passes to Sara, along with all of Connie's property other than the house and furnishings. Also called the residual estate or residue.

FUNDING A TRUST

Transferring ownership of property to a trust.

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).

SAMPLE LEGAL CASES

Williams v. Lollar

... Leo L. Williams ("Leo") was the proponent of the will and sought to have the will probated in the Jefferson County Probate Court ("the probate court"). During ... estate. In the probate court, the Lollars successfully contested the will. ...

Ex parte AMP

... BOLIN, Justice. AMP, the biological mother of SLS ("the mother"), filed a petition for a writ of mandamus, seeking an order setting aside the probate court's interlocutory order granting the petition of the foster parents, EWH and SMH, to adopt SLS ("the child") (case no. 1061010). ...

IN RE BERRY

... the Berrys") petition this Court for the writ of mandamus directing Cullman Circuit Court Judge Don L. Hardeman to grant the Berrys' motion for the dismissal of the administration of the estate of Vera H. Berry, which had been removed from the Cullman County Probate Court. ...