Imperial Trusts Lawyer, Texas
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Albert G. Valadez
Family Law, Criminal, Civil & Human Rights, Contract
Status: In Good Standing Licensed: 41 Years
104 W Callaghan St, Fort Stockton, TX 79735
Profile LAWPOINTS™29/100
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Ori Tucker White
Criminal, Wills & Probate, Divorce & Family Law, Family Law, Personal Injury
Status: In Good Standing
107 E. 4th St., Fort Stockton, TX 79735
Profile LAWPOINTS™26/100
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1400 N Texas St, Fort Stockton, TX 79735
Profile LAWPOINTS™19/100
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413 N Main Street, Fort Stockton, TX 79735
Profile LAWPOINTS™19/100
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103 N Nelson St, Fort Stockton, TX 79735
Profile LAWPOINTS™19/100
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608 N Thomson St, Fort Stockton, TX 79735
Profile LAWPOINTS™19/100
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306 S Summit, Fort Stockton, TX 79735
Profile LAWPOINTS™19/100
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1106 N. Rio Street, Fort Stockton, TX 79735
Profile LAWPOINTS™17/100
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Paul Herve Dionne
Commercial Real Estate, Real Estate, Wills
Status: In Good Standing Licensed: 65 Years
403 S Mendel St, Fort Stockton, TX 79735
Profile LAWPOINTS™19/100
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Crane, TX 79731
Profile LAWPOINTS™14/100
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LEGAL TERMS
PERSONAL PROPERTY
All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, p... (more...)
All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, patents, pets and season baseball tickets are all examples of personal property. Personal property may also be called personal effects, movable property, goods and chattel, and personalty. Compare real estate.
DEED OF TRUST
See trust deed.
ANCILLARY PROBATE
A probate proceeding conducted in a different state from the one the deceased person resided in at the time of death. Usually, ancillary probate proceedings are... (more...)
A probate proceeding conducted in a different state from the one the deceased person resided in at the time of death. Usually, ancillary probate proceedings are necessary if the deceased person owned real estate in another state.
POWER OF APPOINTMENT
The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust o... (more...)
The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust only according to the terms of the trust, but a trustee with a power of appointment can choose the beneficiaries, sometimes from a list of candidates specified by the grantor. For example, Karin creates a trust with power of appointment to benefit either the local art museum, symphony, library or park, depending on the trustee's assessment of need.
LIFE INSURANCE
A contract in which an insurance company agrees to pay money to a designated beneficiary upon the death of the policy holder. In exchange, the policyholder pays... (more...)
A contract in which an insurance company agrees to pay money to a designated beneficiary upon the death of the policy holder. In exchange, the policyholder pays a regularly scheduled fee, known as the insurance premiums. The purpose of life insurance is to provide financial support to those who survive the policyholder, such as family members or business partners. When the policyholder dies, the insurance proceeds pass to the beneficiaries free of probate, though they are counted for federal estate tax purposes. group life insurance Life insurance available through an employer or association that covers participating employees and members under one master insurance policy. Most group life insurance policies are term insurance policies, that terminate when the member or employee reaches a certain age or leaves the organization and do not accumulate any cash surrender value. term life insurance No-frills life insurance, with neither cash surrender value nor loan value (an amount that can be used as collateral for a loan). Term life insurance provides a pre-set amount of coverage if the policyholder dies during the period of time specified in the policy. Policyholders usually have the option to renew at the end of the term for the period of years specified in the policy. Unlike whole life insurance, premiums generally increase as the insured person gets older and the risk of death increases.universal life insurance A type of whole life insurance that offers some additional features and advantages. Like whole life insurance, universal life insurance accumulates cash value through investment of the premium payments. The unique feature of universal life insurance is that it has variable premiums, benefits and payment schedules, all of which are tied to market interest rates and the performance of the investment portfolio. Also, universal life plicies normally provide you with more consumer information. For example, you are told how much of your policy payments goes for insurance company overhead expenses, reserves and policy proceed payments, and how much is retained and invested for your savings. This information isn't usually provided with whole life policies.variable life insurance A type of whole life insurance in which the amount of death benefits varies, depending on the performance of investments. The insurance company places some or all of the fixed premium payments into an investment account; some companies let the insured person decide how the money is invested. The policyholder bears the risk of investment losses, though there is a guaranteed minimum benefit payment. One benefit of variable insurance is that interest and dividend income from the investment account is not taxed until it is paid out to the policyholder.variable universal life insurance A type of whole life insurance that provides greater potential for financial gain--and brings greater risks. Like universal life insurance, variable universal life insurance offers flexible premiums, payment schedules and benefits. But variable universal life policies are riskier because the premiums are invested in stocks, rather than more predictable money market accounts and bonds. Also called universal variable life insurance.whole life insurance Life insurance that provides coverage for the entire life of the policyholder, who pays the same fixed premium throughout his or her life. The policy builds up cash reserves that may be paid out to the policyholder when he or she surrenders or partially surrenders the policy or uses the cash reserves to fund low-interest loans. The annual increase in the cash value of the policy is not taxed. If the policyholder surrenders the policy, a portion of the payment is not taxable. Also called straight life insurance or ordinary life insurance.
ENDOWMENT INSURANCE
Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death.... (more...)
Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death. If the policy-holder dies sooner, the beneficiary named in the policy receives the proceeds.
SURROGATE COURT
See probate court.
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.
TRUSTEE
The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income ... (more...)
The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income or principal as directed in the trust document. With a simple probate-avoidance living trust, the person who creates the trust is also the trustee.
SAMPLE LEGAL CASES
In re Townley Bypass Unified Credit Trust
... Further, the Hawaii court quoted from a second edition of Scott's treatise on trusts. The same
provision of that treatise is now found at IIA AUSTIN WAKEMAN SCOTT & WILLIAM
FRANKLIN FRATCHER, THE LAW OF TRUSTS § 158.1 (4th ed.1987): ...
Alpert v. Riley
... [1] Our disposition of the case remains unchanged. In this trust management dispute involving
three separate trusts, Roman Alpert and Renee Picazo, Guardian of the Estate of Daniel Alpert,
a minor (collectively, the beneficiaries), appeal the trial court's judgment. ...
Kennedy v. Hudnall
... This is an attempt to appeal from a post-judgment order. The plaintiffs below 522 were several
trusts [1] (collectively, the Trusts) who, on February 14, 2007, had obtained a final judgment
of just over $300,000.00 against Major Kennedy, Jr., for theft of timber. ...
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