Bangor Estate Planning Lawyer, Maine


Includes: Gift Taxation

C Peter Bos

Bankruptcy, Business Organization, Criminal, Estate Planning
Status:  In Good Standing           

Norman Minsky

Wills & Probate, Business, Estate Planning, Real Estate
Status:  In Good Standing           

Paul L. Rudman

Commercial Real Estate, Real Estate, Estate Planning, Elder Law
Status:  In Good Standing           Licensed:  61 Years

Marie E. Hansen

Family Law, Estate Planning, Workers' Compensation
Status:  In Good Standing           Licensed:  21 Years
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Thomas A. Russell

Estate Planning, Private Schools, Business & Trade, Elder Law
Status:  Inactive           Licensed:  42 Years

Tracy J. Roberts

Estate Planning, Wills & Probate
Status:  In Good Standing           Licensed:  12 Years

Anthony D. Pellegrini

Commercial Real Estate, International Intellectual Property, Intellectual Property, Estate Planning
Status:  In Good Standing           Licensed:  27 Years

Misty D. Allen

Estate Planning, Wills & Probate
Status:  In Good Standing           Licensed:  10 Years

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Free Help: Use This Form or Call 800-943-8690

Member Representative

Call me for fastest results!
800-943-8690

Free Help: Use This Form or Call 800-943-8690

By submitting this lawyer request, I confirm I have read and agree to the Consent to Receive Email, Phone, Text Messages, Terms of Use, and Privacy Policy. Information provided is not privileged or confidential.

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Easily find Bangor Estate Planning Lawyers and Bangor Estate Planning Law Firms. For more attorneys, search all Estate areas including Trusts, Wills & Probate and Power of Attorney attorneys.

LEGAL TERMS

SUCCESSOR TRUSTEE

The person or institution who takes over the management of trust property when the original trustee has died or become incapacitated.

CHARITABLE TRUST

Any trust designed to make a substantial gift to a charity and also achieve income and estate tax savings for the person who creates the trust (the grantor).

SPECIFIC BEQUEST

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequ... (more...)
A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequest fails. In other words, the beneficiary cannot substitute a similar item in the estate. Example: If John leaves his 1954 Mercedes to Patti, and when John dies the 1954 Mercedes is long gone, Patti doesn't receive John's current car or the cash equivalent of the Mercedes. See ademption.

ESTATE TAXES

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... (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.

REMAINDERMAN

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderma... (more...)
Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderman because he will inherit the home in the future, after Alma dies.

BENEFICIARY

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

EXECUTOR

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's... (more...)
The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.

DEVISEE

A person or entity who inherits real estate under the terms of a will.

ABATEMENT

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other exp... (more...)
A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other expenses. Gifts left in the will are cut back in order to pay taxes, satisfy debts or take care of other gifts that are given priority under law or by the will itself.

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