Isabella Estate Lawyer, Oklahoma

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Tina Ann Hall

Social Security -- Disability, Family Law, Wills & Probate, Workers' Compensation
Status:  In Good Standing           

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Benjamin Bowers

Estate Planning, Banking & Finance
Status:  In Good Standing           

Richard L. Mcknight

Estate Planning, Real Estate, Trusts, Estate
Status:  In Good Standing           

Tim J. Crowley

Real Estate, Wills & Probate, Trusts, Administrative Law
Status:  In Good Standing           

Karig P. Culver

Corporate, Oil & Gas, Estate Planning, Real Estate
Status:  In Good Standing           

Timothy Roger Traynor

Elder Law, Adoption, Gift Taxation, Tax
Status:  In Good Standing           

Randy Dean Mecklenburg

Elder Law, Gift Taxation, Estate, Corporate
Status:  In Good Standing           

Gary L. Brown

Gift Taxation, Divorce, Child Custody, Personal Injury
Status:  In Good Standing           

Amber Mclaughlin Gill

Wills, Trusts, Family Law, Adoption
Status:  In Good Standing           

Patrick James Gibson

Adoption, Gift Taxation
Status:  In Good Standing           

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

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Lawyer.com can help you easily and quickly find Isabella Estate Lawyers and Isabella Estate Law Firms. Refine your search by specific Estate practice areas such as Estate Planning, Trusts, Wills & Probate and Power of Attorney matters.

LEGAL TERMS

ENTITY

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from i... (more...)
An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, estate or government agency. The entity is treated like a person; it can function legally, be sued, and make decisions through agents.

TRUST MERGER

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)
Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.

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.

FUNDING A TRUST

Transferring ownership of property to a trust.

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.

LIFE BENEFICIARY

A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.

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.

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.

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.