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Redmond Trusts Lawyer, Oregon

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Patricia Nelson

Wills & Probate, Trusts, Estate, Divorce & Family Law
Status:  In Good Standing           Licensed:  31 Years
CONTACT
204 SE Miller Ave, Bend, OR 97702
Profile LAWPOINTS™32/100
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William Van Dennis

Trusts
Status:  In Good Standing           Licensed:  35 Years
CONTACT
438 Ne Irving Ave, Bend, OR 97701
Profile LAWPOINTS™26/100
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LEGAL TERMS

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.

FAMILY POT TRUST

See pot trust.

PROBATE COURT

A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate cour... (more...)
A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate court' in New York and several other states, this court normally examines the authenticity of a will -- or if a person dies intestate, figures out who receives her property under state law. It then oversees a procedure to pay the deceased person's debts and to distribute her assets to the proper inheritors. See probate.

CREDIT SHELTER TRUST

See AB trust.

GRANTOR RETAINED INCOME TRUST

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for ... (more...)
Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years. When the trust ends, the property goes to the final beneficiaries you've named. These trusts are for people who have enough wealth to feel comfortable giving away a substantial hunk of property. They come in three flavors: Grantor-Retained Annuity Trusts (GRATs), Grantor-Retained Unitrusts (GRUTs) and Grantor-Retained Income Trusts (GRITs).

IRREVOCABLE TRUST

A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.

DISINHERIT

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit prope... (more...)
To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit property -- a close family member, for example -- should not receive it. In most states, you cannot completely disinherit your spouse; a surviving spouse has the right to claim a portion (usually one-third to one-half) of the deceased spouse's estate. With a few exceptions, however, you can expressly disinherit children.

ALTERNATE BENEFICIARY

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to ... (more...)
A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to take the property. For example, in his will Jake leaves his collection of sheet music to his daughter, Mia, and names the local symphony as alternate beneficiary. When Jake dies, Mia decides that the symphony can make better use of the sheet music than she can, so she refuses (disclaims) the gift, and the manuscripts pass directly to the symphony. In insurance law, the alternate beneficiary, usually the person who receives the insurance proceeds because the initial or primary beneficiary has died, is called the secondary or contingent beneficiary.

SAMPLE LEGAL CASES

MARRIAGE OF BROWN

... Husband appeals from a dissolution judgment awarding wife spousal support from husband's interests in two family trusts created by husband's father and grandmother. ... In this appeal, the dispute concerns the disposition of two family trusts of which husband is a beneficiary. ...

Connall v. Felton

... ORS 93.020(1). Plaintiff does not contend that the decedent created an express trust when she deeded the property to defendant. Implied trusts fall into two categories: constructive trusts and resulting trusts. Shipe et al, 206 Or. at 562, 292 P.2d 123. ...

TRUSTS OF VIEANNA ELEANOR ANDERSON TRUST DATED MAY 20, 1987 v. Anderson

275 P.3d 1017 (2012). 248 Or. App. 755. TRUSTS OF VIEANNA ELEANOR ANDERSON TRUST DATED MAY 20, 1987 v. ANDERSON. A146802. Court of Appeals of Oregon. March 7, 2012. Affirmed without opinion.

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