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inter vivos trust
The Latin name, favored by some lawyers, for a living trust. 'Inter vivos' is Latin for 'between the living.'
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.
All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your (more...)
All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankruptcy estate for the duration of your case.
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 (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.
In the law of wills, a spouse who dies before the will maker while still married to him or her.
A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.
family pot trust
See pot trust.
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.
The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court (more...)
The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court costs are paid. The residuary estate also includes any gifts under a will that fail or lapse. For example, Connie's will leaves her house and all its furnishings to Andrew, her VW bug to her friend Carl, and the remainder of her property (the residuary estate) to her sister Sara. She doesn't name any alternate beneficiaries. Carl dies before Connie. The VW bug becomes part of the residuary estate and passes to Sara, along with all of Connie's property other than the house and furnishings. Also called the residual estate or residue.
... On May 3, 2005, HCC petitioned the Aiken County Probate Court for an order removing Appellant
as trustee and naming Penland as successor trustee. ... On October 27, 2006, HCC filed suit in
probate court against Appellant individually and as former trustee of the Trust. ...
... This Court granted Petitioner Betsy M. Campbell's (Mother) petition to review a court of appeals
decision setting aside a probate court order appointing two examiners to evaluate Mother's mental
competency in a conservatorship proceeding brought by her daughter ...
... On February 8, 2001, James filed suit in probate court seeking partition of the Estate's
property. ... On October 15, 2001, the probate court removed Ronnie as personal
representative of the Estate and appointed James in his place. ...