Kalkaska Wills & Probate Lawyer, Michigan
Includes: Estate Administration, Living Wills, Wills
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120 Water Street, Boyne City, MI 49712
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LEGAL TERMS
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.'
INTESTATE
The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.
DISTRIBUTEE
(1) Anyone who receives something. Usually, the term refers to someone who inherits a deceased person's property. If the deceased person dies without a will (ca... (more...)
(1) Anyone who receives something. Usually, the term refers to someone who inherits a deceased person's property. If the deceased person dies without a will (called intestate), state law determines what each distributee will receive. Also called a beneficiary.
POUR-OVER WILL
A will that 'pours over' property into a trust when the will maker dies. Property left through the will must go through probate before it goes into the trust.
INHERITANCE TAXES
Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited prop... (more...)
Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited property.
GRANTOR RETAINED INCOME TRUST
Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for ... (more...)
Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years. When the trust ends, the property goes to the final beneficiaries you've named. These trusts are for people who have enough wealth to feel comfortable giving away a substantial hunk of property. They come in three flavors: Grantor-Retained Annuity Trusts (GRATs), Grantor-Retained Unitrusts (GRUTs) and Grantor-Retained Income Trusts (GRITs).
SELF-PROVING WILL
A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-prov... (more...)
A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-proving when two witnesses sign under penalty of perjury that they observed the willmaker sign it and that he told them it was his will. If no one contests the validity of the will, the probate court will accept the will without hearing the testimony of the witnesses or other evidence. To make a self-proving will in other states, the willmaker and one or more witnesses must sign an affidavit (sworn statement) before a notary public certifying that the will is genuine and that all willmaking formalities have been observed.
HOLOGRAPHIC WILL
A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many stat... (more...)
A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many states, making a holographic will is never advised except as a last resort.
PER CAPITA
Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leavin... (more...)
Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leaving children of his or her own. For example, Fred leaves his house jointly to his son Alan and his daughter Julie. But Alan dies before Fred, leaving two young children. If Fred's will states that heirs of a deceased beneficiary are to receive the property per capita, Julie and the two grandchildren will each take a third. If, on the other hand, Fred's will states that heirs of a deceased beneficiary are to receive the property per stirpes, Julie will receive one-half of the property, and Alan's two children will share his half in equal shares (through Alan by right of representation).
SAMPLE LEGAL CASES
In re Temple Marital Trust
... Wallace Temple, Petitioner-Appellant, v. Clinton Probate Court Ralph Temple and Dean Temple,
Respondents-Appellees. Docket No. 273911. ... Petitioner petitioned the probate court to construe
the trust as not allowing Clarence to amend it after Florence's death. . . . ...
In re Smith Trust
... The respondent refused to sell the property to the petitioners. The petitioners filed a petition in
the Sanilac County Probate Court, seeking to compel the sale of the land pursuant to the lease
agreement. ... As a result, the probate court held that no enforceable agreement existed. ...
In re Kostin Estate
... In Docket No. 272767, respondent Camille A. Kent appeals as of right the probate court's judgment
and order following a bench trial, interpreting a will and trust, determining heirs and devisees,
and determining title to property after decedent Juanita Kostin's death in 2004. ...
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