Bloomington Trusts Lawyer, Maryland

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Linda S Sherbin

Real Estate, Federal Appellate Practice, Government, Trusts
Status:  In Good Standing           Licensed:  49 Years

Tara Marie Yutzy Collier

Real Estate, Government, Estate, Trusts
Status:  In Good Standing           Licensed:  17 Years

Robert O Kazary

Real Estate, Litigation, Lawsuit & Dispute, Trusts
Status:  In Good Standing           Licensed:  51 Years

Gregory H Getty

Real Estate, Federal Appellate Practice, Government, Trusts
Status:  In Good Standing           

Jayci Shaw Duncan

Real Estate, Trusts, Family Law, Civil Rights
Status:  In Good Standing           Licensed:  26 Years

G Douglas Reinhard

Real Estate, Trusts, Estate, Corporate
Status:  In Good Standing           Licensed:  51 Years

Tara L Kellermeyer

General Practice
Status:  In Good Standing           Licensed:  20 Years

Nick Monteleone

Estate Planning, Trusts, Estate
Status:  In Good Standing           

Penny L. Walker

Trusts
Status:  In Good Standing           

Tara Marie Yutzy Collier

General Practice
Status:  In Good Standing           

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

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LEGAL TERMS

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).

INHERITANCE TAXES

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited prop... (more...)
Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited property.

TESTAMENTARY TRUST

A trust created by a will, effective only upon the death of the willmaker.

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.

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.

NONPROBATE

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surv... (more...)
The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surviving spouse and property left outside of a will through probate-avoidance methods such as pay-on-death designations, joint tenancy ownership, living trusts and life insurance. Property that avoids probate is sometimes described as the 'nonprobate estate.' Nonprobate distribution may also occur if the deceased person leaves an invalid will. In that case, property will pass according to the particular state's laws of intestate succession.

ACCUMULATION TRUST

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nic... (more...)
A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.

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.

SUCCESSION

The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which d... (more...)
The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which determine who inherits property when someone dies without a valid will. When used in connection with real estate, the word refers to the passing of property by will or inheritance, as opposed to gift, grant, or purchase.

SAMPLE LEGAL CASES

Johnson v. Johnson

... George T. Bogert, The Law of Trusts and Trustees § 181 at 244-46 (Rev.2d ed.1979) (internal footnotes omitted). ... Once the shares were distributed into Trusts A and B, the Trust set forth how the Trustee was to hold, manage, and distribute the Trust. ...

Elder v. Smith

... Vol.), § 8-104 of the Estates and Trusts Article ("ET"). ... Again, the Estates and Trusts Article governs such claims, and there is nothing in that Article permitting a creditor with a pre-death claim to enhance the priority of its claim post-death. ...

Spry v. Gooner

... appellants lacked standing. The basis of the order was that appellants were not "interested persons" within the meaning of Maryland Code (2001 Repl.Vol., 2008 Supp.), § 1-101(i) of the Estates & Trusts Article ("ET"). Ralph Gooner ...