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Peace Dale Estate Planning Lawyer, Rhode Island

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Includes: Gift Taxation

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1-3 of 3 matches. Page 1 of 1  

Erik Wallin

Insurance, Landlord-Tenant, Estate Planning, Nursing Home
Status:  In Good Standing           
CONTACT
4080 South County Trail, Charlestown, RI 02813
Profile LAWPOINTS™32/100
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Jennifer Johnson

Landlord-Tenant, Estate Planning, Divorce, Insurance
Status:  In Good Standing           
CONTACT
4610 Old Post Road, Charlestown, RI 02813
Profile LAWPOINTS™27/100
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Eric F Archer

Estate Planning
Status:  In Good Standing           
CONTACT
10 Coronado St, Jamestown, RI 02835
Profile LAWPOINTS™22/100
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Easily find Peace Dale Estate Planning Lawyers and Peace Dale Estate Planning Law Firms. For more attorneys, search all Estate areas including Trusts, Wills & Probate and Power of Attorney attorneys.

LEGAL TERMS

BYPASS TRUST

A trust designed to lessen a family's overall estate tax liability. An AB trust is the most popular kind of bypass trust.

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.

BEQUEATH

A legal term sometimes used in wills that means 'leave' -- for example, 'I bequeath my garden tools to my brother-in-law, Buster Jenkins.'

SUMMARY PROBATE

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are ... (more...)
A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are complicated, but a few examples include estates worth up to $100,000 in California; New York estates where property, excluding real estate and amounts that must be set aside for surviving family members, is worth $20,000 or less; and Texas estates where the value of property doesn't exceed what is needed to pay a family allowance and certain creditors.

WILL

A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for you... (more...)
A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for your young children.

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)
A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

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.

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.'

DISCHARGE (OF PROBATE ADMINISTRATOR)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties hav... (more...)
A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties have been completed but may happen sooner if the executor or administrator wishes to withdraw or is dismissed.

SAMPLE LEGAL CASES

Notarantonio v. Notarantonio

... to make any transfer until. James settled his debt with the IRS. James said that after Mary's open-heart surgery Mary told him to "[g]o get everything squared away" concerning her estate planning. Mary told James to leave her ...

Goddard v. Bank of America

... Petitioners' memorandum at page 6 says that the trusts' purposes are "not expressly stated" and suggests three general purposes which are "all common and reasonable estate planning tools." Claiming that three common purposes were the goal of these Settlors does not hold ...

IN RE ESTATE OF PICILLO

... control of her own destiny. On the day of the will's execution, he was able to observe Ms. Picillo through the lens of their longstanding relationship, and in light of his extensive experience in estate planning. As to the notation on ...

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