Millhousen Wills & Probate Lawyer, Indiana
Includes: Estate Administration, Living Wills, Wills
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LEGAL TERMS
HOLOGRAPHIC WILL
A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many stat... (more...)
A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many states, making a holographic will is never advised except as a last resort.
GRANTOR
Someone who creates a trust. Also called a trustor or settlor.
POUR-OVER WILL
A will that 'pours over' property into a trust when the will maker dies. Property left through the will must go through probate before it goes into the trust.
GRANT DEED
A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as descri... (more...)
A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as described in the deed. This is the most commonly used type of deed. Compare quitclaim deed.
LETTERS TESTAMENTARY
The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succes... (more...)
The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succession laws.
RULE AGAINST PERPETUITIES
An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For examp... (more...)
An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For example, a person would not be allowed to leave property to her husband for his life, then to her children for their lives, then to her grandchildren. The gift would potentially go to the grandchildren at a point too remote in time.
CONSERVATOR
Someone appointed by a judge to oversee the affairs of an incapacitated person. A conservator who manages financial affairs is often called a 'conservator of th... (more...)
Someone appointed by a judge to oversee the affairs of an incapacitated person. A conservator who manages financial affairs is often called a 'conservator of the estate.' One who takes care of personal matters, such as healthcare and living arrangements, is known as a 'conservator of the person.' Sometimes, one conservator is appointed to handle all these tasks. Depending on where you live, a conservator may also be called a guardian, committee or curator.
QDOT TRUST
A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spo... (more...)
A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spouse. QDOT stands for qualified domestic trust.
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.
SAMPLE LEGAL CASES
In re Adoption of HNPG
... II. Whether the probate court abused its discretion when it admitted deposition testimony of
HNPG's mother over Blake's objection; and,. III. ... On February 23, 2007, the probate court issued
findings of fact and conclusions of law and found in pertinent part: ...
In re Estate of Eguia
... Telez appeals the probate court's determination that Esther Eguia, Eleazar Gracia, and Mary
Jane Gracia are the trustees of the Sociedad and are entitled in that capacity to receive the
property left to the Sociedad. ... Telez opened a probate case on July 11, 2005. ...
First Farmers Bank & Trust Co. v. Whorley
... On January 24, 2002, Zehring passed away and a probate estate was opened on February 7,
2002. ... The next day, the trial court terminated First Farmers' guardianship and First Farmers was
appointed executor and personal representative of the probate estate. ...
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