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Wyandotte Wills & Probate Lawyer, Michigan

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Includes: Estate Administration, Living Wills, Wills

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William I. Burke

Real Estate, Wills & Probate, Trusts, Estate
Status:  Inactive           Licensed:  55 Years
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1100 Southfield Rd, Lincoln Park, MI 48146
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LEGAL TERMS

INTER VIVOS TRUST

The Latin name, favored by some lawyers, for a living trust. 'Inter vivos' is Latin for 'between the living.'

SPRINKLING TRUST

A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

LIFE BENEFICIARY

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

TITLE COMPANY

A company that issues title insurance.

BENEFICIARY

A person or organization legally entitled to receive benefits through a legal device, such as a will, trust or life insurance policy.

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.

UNIFORM TRANSFER-ON-DEATH SECURITY ACT

A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using... (more...)
A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using a simple form that names a person to receive the property after the owner's death. Every state but Texas has adopted the statute.

EXEMPTION TRUST

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth m... (more...)
A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest is shielded from tax under the surviving spouse's marital deduction.

INTESTATE

The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.

SAMPLE LEGAL CASES

In re Temple Marital Trust

... Wallace Temple, Petitioner-Appellant, v. Clinton Probate Court Ralph Temple and Dean Temple, Respondents-Appellees. Docket No. 273911. ... Petitioner petitioned the probate court to construe the trust as not allowing Clarence to amend it after Florence's death. . . . ...

In re Smith Trust

... The respondent refused to sell the property to the petitioners. The petitioners filed a petition in the Sanilac County Probate Court, seeking to compel the sale of the land pursuant to the lease agreement. ... As a result, the probate court held that no enforceable agreement existed. ...

In re Kostin Estate

... In Docket No. 272767, respondent Camille A. Kent appeals as of right the probate court's judgment and order following a bench trial, interpreting a will and trust, determining heirs and devisees, and determining title to property after decedent Juanita Kostin's death in 2004. ...

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