- Maine / Brooks / Brooks Trusts
Brooks Trusts Lawyer, Maine, page 4
Skowhegan, ME 04976
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Joann Clark Austin
Wills & Probate, Trusts, Federal Appellate Practice
Status: In Good Standing Licensed: 45 Years
16 Jonesbrook Crossing, South China, ME 04358
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Timothy R. O'Donnell
Real Estate, Wills & Probate, Trusts, Corporate
Status: In Good Standing Licensed: 52 Years
112 Silver Street, Waterville, ME 04901
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LEGAL TERMS
MINERAL RIGHTS
An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral right... (more...)
An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral rights is usually entitled to either take the minerals from the land himself or receive a royalty from the party that actually extracts the minerals.
RULE AGAINST PERPETUITIES
An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For examp... (more...)
An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For example, a person would not be allowed to leave property to her husband for his life, then to her children for their lives, then to her grandchildren. The gift would potentially go to the grandchildren at a point too remote in time.
FAMILY ALLOWANCE
A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to ... (more...)
A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to help support the surviving spouse and children during the time it takes to probate the estate. The amount is determined by state law and varies greatly from state to state.
PROVING A WILL
Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily sat... (more...)
Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily satisfies by showing that the will was signed and dated by the deceased person in front of two or more witnesses. When the will is holographic -- that is, completely handwritten by the deceased and not witnessed, it is still valid in many states if the executor can produce relatives and friends to testify that the handwriting is that of the deceased.
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.
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.
PROBATE
The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased pers... (more...)
The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased person's affairs identifying and inventorying the deceased person's property paying debts and taxes identifying heirs, and distributing the deceased person's property according to the will or, if there is no will, according to state law. Formal court-supervised probate is a costly, time-consuming process -- a windfall for lawyers -- which is best avoided if possible.
DEATH TAXES
Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who... (more...)
Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who inherit property.
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).
SAMPLE LEGAL CASES
Edwards v. Campbell
... Gutierrez v. Gutierrez, 2007 ME 59, ¶ 13, 921 A.2d 153, 157. [¶ 7] It is not disputed that the
Probate Court has jurisdiction over the administration of trusts: "To the full extent provided
in sections 3-105, 5-102 and 5-402... over all subject matter relating to... ...
In re Adoption of Patricia S.
... [¶ 1] Patricia S. appeals from a summary judgment entered in the Knox County Probate Court
(Emery, J.) in favor of Thomas J. Watson III and George J. Gillespie III, as trustees of two trusts,
on their petition to annul party-in-interest Olive W.'s 1991 adoption of Patricia. ...
IN RE PIKE FAMILY TRUSTS
[¶ 2] The essential facts are uncontested. Joyce E. Jack and Elaine A. Pike are the adult children
of Clifton and Doris. Clifton died in 2003, and Doris died in 2007. Clifton and Doris executed
substantially similar wills on the same date in 1999. Both wills [2] included clauses ...
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