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Holtville Trusts Lawyer, California, page 2

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Vance Bryan Mcalister

Trusts, Estate, Car Accident
Status:  In Good Standing           
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636 State St, El Centro, CA 92243
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Easily find Holtville Trusts Lawyers and Holtville Trusts Law Firms. For more attorneys, search all Estate areas including Estate Planning, Wills & Probate and Power of Attorney attorneys.

LEGAL TERMS

LETTERS TESTAMENTARY

The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succes... (more...)
The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succession laws.

WARRANTY DEED

A seldom-used type of deed that contains express assurances about the legal validity of the title being transferred.

DEVISEE

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

TRUST DEED

The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to... (more...)
The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to a trustee -- often a title company -- who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.

OFFICER

A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operation... (more...)
A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operations of the organization. Officers generally hold titles such as President or Treasurer. Many states and most corporate bylaws or LLC operating agreements require a corporation or LLC to have a president, secretary and treasurer. Election of a vice president may be required by state law.

SUMMARY PROBATE

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are ... (more...)
A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are complicated, but a few examples include estates worth up to $100,000 in California; New York estates where property, excluding real estate and amounts that must be set aside for surviving family members, is worth $20,000 or less; and Texas estates where the value of property doesn't exceed what is needed to pay a family allowance and certain creditors.

ABSTRACT OF TRUST

A condensed version of a living trust document, which leaves out details of what is in the trust and the identity of the beneficiaries. You can show an abstract... (more...)
A condensed version of a living trust document, which leaves out details of what is in the trust and the identity of the beneficiaries. You can show an abstract of trust to a financial organization or other institution to prove that you have established a valid living trust, without revealing specifics that you want to keep private. In some states, this document is called a 'certification of trust.'

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).

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)
1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

SAMPLE LEGAL CASES

Schwartz v. Labow

... The probate court's general jurisdiction encompasses "the internal affairs of trusts" and "[o]ther actions and proceedings involving trustees...." 17000, subds. ... 427 (2) The probate court has general power and duty to supervise the administration of trusts. ...

In re Estate of Young

... (a)(2)(D).) The trial court ruled that the Estate was the prevailing party, because it had showed sufficient evidence of undue influence and fraud in the establishment of the trusts. ... A. Creation of Land Trusts and Operational Trusts; Background. ...

Bilafer v. Bilafer

... SIMONS, Acting PJ. On December 30, 1999, Mitchell J. Bilafer (Mitchell) [1] executed two irrevocable trusts (collectively, the 1999 Trusts). In 2006, Mitchell filed petitions to reform the 1999 Trusts to conform them to his intent. ...

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