Hagarville Trusts Lawyer, Arkansas
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LEGAL TERMS
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.
RESIDUARY BENEFICIARY
A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leav... (more...)
A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leaving his home to Edwina and the remainder of his property to Elmo, then Elmo is the residuary beneficiary.
KINDRED
Under some state's probate codes, all relatives of a deceased person.
SECONDARY MEANING
In trademark law, a mark that is not inherently distinctive becomes protected after developing a 'secondary meaning': great public recognition through long use ... (more...)
In trademark law, a mark that is not inherently distinctive becomes protected after developing a 'secondary meaning': great public recognition through long use and exposure in the marketplace. For example, though first names are not generally considered inherently distinctive, Ben & Jerry's Ice Cream has become so well known that it is now entitled to maximum trademark protection.
IN TERROREM
Latin meaning 'in fear.' This phrase is used to describe provisions in contracts or wills meant to scare a person into complying with the terms of the agreement... (more...)
Latin meaning 'in fear.' This phrase is used to describe provisions in contracts or wills meant to scare a person into complying with the terms of the agreement. For example, a will might state that an heir will forfeit her inheritance if she challenges the validity of the will. Of course, if the will is challenged and found to be invalid, then the clause itself is also invalid and the heir takes whatever she would have inherited if there were no will.
BEQUEATH
A legal term sometimes used in wills that means 'leave' -- for example, 'I bequeath my garden tools to my brother-in-law, Buster Jenkins.'
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 ha... (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.
INVESTOR
A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes invest... (more...)
A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes investments for others who have entrusted her with their money.
WARRANTY DEED
A seldom-used type of deed that contains express assurances about the legal validity of the title being transferred.
SAMPLE LEGAL CASES
Evans v. Blankenship
... The record reflects that the present case stems from litigation that arose in the Jefferson County
Circuit Court regarding matters involving two trusts, the Samuel Wirt Blankenship, Jr., Revocable
Living Trust, and the Julia Cooke Blankenship Revocable Living Trust (hereinafter ...
Unknown Heirs of Warbington v. First Community Bank
... He died in 1984, leaving the property to his wife, Catherine Warbington, the Warbington Family
Trust and the Catherine M. Warbington Marital Trust (sometimes referred to as "trusts"). The trustee
of the trusts was Bert John Warbington ("Bert Warbington" or "trustee"). ...
FirstPlus Home Loan Owner 1997-1 v. Bryant
... The cause of action by the representative plaintiffs, individually, and on behalf of the members
of each subclass, seeks damages arising from the payment by them of interest that they allege
is usurious to the trust or trusts and their trustees that own or owned their loans. ...
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