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marital life estate trust
See AB trust.
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.
A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.
In the law of wills, a spouse who dies before the will maker while still married to him or her.
A seldom-used type of deed that contains express assurances about the legal validity of the title being transferred.
property control trust
Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who (more...)
Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who have special physical, emotional or other requirements, (2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and (3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.
An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether (more...)
An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male or female, this person is called the administrator.
surviving spouse's trust
If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.
Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, (more...)
Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and whether or not it goes through probate after your death, is subject to federal estate tax. Currently, however, federal estate tax is due only if your property is worth at least $2 million when you die. The estate tax is scheduled to be repealed for one year, in 2010, but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.
... Further, the Hawaii court quoted from a second edition of Scott's treatise on trusts. The same
provision of that treatise is now found at IIA AUSTIN WAKEMAN SCOTT & WILLIAM
FRANKLIN FRATCHER, THE LAW OF TRUSTS § 158.1 (4th ed.1987): ...
...  Our disposition of the case remains unchanged. In this trust management dispute involving
three separate trusts, Roman Alpert and Renee Picazo, Guardian of the Estate of Daniel Alpert,
a minor (collectively, the beneficiaries), appeal the trial court's judgment. ...
... This is an attempt to appeal from a post-judgment order. The plaintiffs below 522 were several
trusts  (collectively, the Trusts) who, on February 14, 2007, had obtained a final judgment
of just over $300,000.00 against Major Kennedy, Jr., for theft of timber. ...