Hustonville Wills & Probate Lawyer, Kentucky
Includes: Estate Administration, Living Wills, Wills
SPONSORED LAWYERS
1-6 of 6 matches. Page 1 of 1
Billy G Hopkins
Family Law, Banking & Finance, Wills & Probate, Government Agencies
Status: In Good Standing
116 North Main Street, Somerset, KY 42502
Profile LAWPOINTS™41/100
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116 North Main Street, Somerset, KY 42502
Profile LAWPOINTS™30/100
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105 E Main St, Campbellsville, KY 42718
Profile LAWPOINTS™17/100
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218 W Main St, Richmond, KY 40476
Profile LAWPOINTS™22/100
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Edwin H. Clark
Corporate, Estate Planning, Personal Injury, Wills & Probate
Status: In Good Standing Licensed: 27 Years
851 Corporate Dr, Lexington, KY 40503
Profile LAWPOINTS™40/100
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John Palmer Cornett
Wills & Probate, Civil Rights, Securities, Corporate
Status: In Good Standing Licensed: 18 Years
851 Corporate Drive, Lexington, KY 40503
Profile LAWPOINTS™36/100
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LEGAL TERMS
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.
PRETERMITTED HEIR
A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child b... (more...)
A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child born or adopted after the will is made may be deemed a pretermitted heir. If the court determines that an heir was accidentally omitted, that heir is entitled to receive the same share of the estate as she would have if the deceased had died without a will. A pretermitted heir is sometimes called an 'omitted heir.'
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.
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.
ABSTRACT OF TRUST
A condensed version of a living trust document, which leaves out details of what is in the trust and the identity of the beneficiaries. You can show an abstract... (more...)
A condensed version of a living trust document, which leaves out details of what is in the trust and the identity of the beneficiaries. You can show an abstract of trust to a financial organization or other institution to prove that you have established a valid living trust, without revealing specifics that you want to keep private. In some states, this document is called a 'certification of trust.'
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.
PROPERTY CONTROL TRUST
Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who ha... (more...)
Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who have special physical, emotional or other requirements, (2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and (3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.
PERSONAL PROPERTY
All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, p... (more...)
All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, patents, pets and season baseball tickets are all examples of personal property. Personal property may also be called personal effects, movable property, goods and chattel, and personalty. Compare real estate.
COUNTERCLAIM
A defendant's court papers that seek to reverse the thrust of the lawsuit by claiming that it was the plaintiff -- not the defendant -- who committed legal wron... (more...)
A defendant's court papers that seek to reverse the thrust of the lawsuit by claiming that it was the plaintiff -- not the defendant -- who committed legal wrongs, and that as a result it is the defendant who is entitled to money damages or other relief. Usually filed as part of the defendant's answer -- which also denies plaintiff's claims -- a counterclaim is commonly but not always based on the same events that form the basis of the plaintiff's complaint. For example, a defendant in an auto accident lawsuit might file a counterclaim alleging that it was really the plaintiff who caused the accident. In some states, the counterclaim has been replaced by a similar legal pleading called a cross-complaint. In other states and in federal court, where counterclaims are still used, a defendant must file any counterclaim that stems from the same events covered by the plaintiff's complaint or forever lose the right to do so. In still other states where counterclaims are used, they are not mandatory, meaning a defendant is free to raise a claim that it was really the plaintiff who was at fault either in a counterclaim or later as part of a separate lawsuit.
SAMPLE LEGAL CASES
Fischer v. Fischer
... In fact, at trial he acknowledged that he would have cared for his mother regardless of the
agreement. After their mother's death and probate was instituted, the brothers could not agree
whether John had agreed to take 13% of the entire estate or only 13% of the stocks. ...
Smith v. McCurdy
... Denica as sole beneficiary. Accordingly, the probate court named Denica as executrix
of Thelma's estate. Diana, via counsel, contacted Denica's counsel, requesting
information concerning the probate matter. Denica was notified ...
Kentucky Bar Ass'n v. Christian
... Croft died on June 13, 2000, and although Christian possessed everything necessary to
probate the will within two months of her death, he filed nothing until May 17, 2001. Further,
Christian never registered the testamentary trust as required by law. ...
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