Ozan Wills & Probate Lawyer, Arkansas
Includes: Estate Administration, Living Wills, Wills
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William Bailey Roberts
International, Wills, Estate, Business
Status: In Good Standing Licensed: 62 Years
3903 Water Oak Dr, Texarkana, AR 71854
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1206 N State Line Ave, Texarkana, AR 71854
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LEGAL TERMS
CREDIT SHELTER TRUST
See AB trust.
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.
TESTAMENTARY TRUST
A trust created by a will, effective only upon the death of the willmaker.
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.
INVESTOR
A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes invest... (more...)
A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes investments for others who have entrusted her with their money.
CURATOR
See conservator.
INVENTORY
A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or admini... (more...)
A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or administrator of the estate is responsible for making and filing the inventory.
IRREVOCABLE TRUST
A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.
ADMINISTRATOR
A person appointed by a probate court to handle the distribution of property of someone who has died without a will, or with a will that fails to name someone t... (more...)
A person appointed by a probate court to handle the distribution of property of someone who has died without a will, or with a will that fails to name someone to carry out this task. administrator ad litem A person appointed by a probate court to represent an estate during a lawsuit. (Ad litem is Latin for 'during the litigation.') An administrator ad litem is appointed only if there is no existing executor or administrator of the estate, or if the executor or administrator has conflicting interests. For example, Jerry's will leaves most of his property to his brother, Jeff, and also names Jeff as executor of the will. But Jerry's sister, Janine, feels that Jerry made the will under improper pressure from Jeff, and brings a lawsuit to challenge it. The court appoints an administrator ad litem to represent Jerry's estate while the lawsuit is in progress. Also known as administrator ad prosequendum, meaning administrator 'during the prosecution.' administrator ad prosequendum See administrator ad litem.administrator cum testamento annexo See administrator with will annexed. administrator de bonis non (DBN) Latin for 'administrator of goods not administered.' This term refers to the person appointed by a probate court to finish probate proceedings when the executor or previous administrator can't finish the job.administrator de bonis non cum testamento annexo (DBNCTA) A baffling title for an administrator appointed by a probate court to take over probate proceedings when the named executor dies, leaving the job unfinished.administrator pendente lite Latin for 'administrator pending litigation.' This term refers to the person appointed by a court to begin probate proceedings during a lawsuit that challenges the will. The administrator pendente lite takes an inventory of the deceased person's property and handles the business affairs of the estate until the dispute is settled. Also called a special administrator.administrator with will annexed An administrator who takes the place of an executor under a will. The administrator steps in either when a will fails to nominate an executor or the named executor is unable to serve. Also called administrator cum testamento annexo or CTA, the Latin version of 'with the will annexed.'
SAMPLE LEGAL CASES
Edwards v. Nelson
... Kenneth Edwards, Sr. died after a lengthy hospitalization at Mercy on April 4, 2003. On November
10, 2003, Kenneth Edwards, Jr. ("Edwards") was appointed as the administrator of his father's
estate in Sebastian County Circuit Court, Probate Division, case number PR-2003 ...
Carmody v. Raymond James Financial Services, Inc.
... Appellants, Thomas G. Carmody and Dr. Norman C. Savers, Jr., as co-administrators on behalf
of the Estate of Helen Virginia Coan, deceased, and on behalf of the heirs of Helen Virginia Coan,
appeal the probate order compelling arbitration issued by the Ouachita County ...
Osborn v. Bryant
... 28-41-101 (Repl. 2004 & Supp.2007), and attached her father's will to the affidavit. The
same day she filed the affidavit, Brenda also filed a "Notice of Probate." Proof of
publication of the notice was subsequently filed on October 14, 1994. ...
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