Littlerock Estate Planning Lawyer, Washington, page 3

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Includes: Gift Taxation

Francine Lenora Cullari-Sanchez

Estate Planning, Corporate, Legal Malpractice, Commercial Real Estate
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  2 Years

Grady Heins

Commercial Real Estate, Litigation, Estate Planning, Business
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

Jacqueline Kettman-Thomas

Education, Wills, Estate Planning, Estate
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  18 Years

James Arthur Connolly

Wills, Estate Planning, Guardianships & Conservatorships, Civil Rights
Status:  Deceased *Status is reviewed annually. For latest information visit here           Licensed:  46 Years

James Arthur Winterstein

Commercial Real Estate, Landlord-Tenant, Estate Planning, Credit & Debt
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  48 Years

James Braden Fraser

Bankruptcy, Family Law, Estate Planning, International Tax
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  8 Years

James M Richardson

Wills, Estate Planning, Estate, Family Law
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  13 Years

Janet Mcclanahan Moody

Estate Planning, Family Law, Guardianships & Conservatorships, Elder Law
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  21 Years

Janet Jihyun In

Tax, Gift Taxation, Labor Law
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  19 Years

Jared Steven Privatt

Estate, Land Use & Zoning, Estate Planning, Guardianships & Conservatorships
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  11 Years

Free Help: Use This Form or Call 800-943-8690

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LEGAL TERMS

EXECUTOR

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's... (more...)
The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.

RESIDUARY ESTATE

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 c... (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.

GENERATION-SKIPPING TRUST

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income fro... (more...)
A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income from the trust. Because the children (the middle generation) never legally own the property, it isn't subject to estate tax at their death. See generation-skipping transfer tax.

PROBATE COURT

A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate cour... (more...)
A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate court' in New York and several other states, this court normally examines the authenticity of a will -- or if a person dies intestate, figures out who receives her property under state law. It then oversees a procedure to pay the deceased person's debts and to distribute her assets to the proper inheritors. See probate.

FAILURE OF ISSUE

A situation in which a person dies without children who could have inherited her property.

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.

PUBLIC ADMINISTRATOR

Someone appointed by a probate court to oversee probate proceedings when a person dies without a will or heirs, and his or her property is expected to pass to t... (more...)
Someone appointed by a probate court to oversee probate proceedings when a person dies without a will or heirs, and his or her property is expected to pass to the state. Some states have public administrators who are responsible for temporarily preserving the assets of an estate if there are disputes about specific provisions in the will or about who will be appointed the regular administrator.

INHERIT

To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will... (more...)
To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will. Currently, however, the word is used whenever someone receives property from the estate of a deceased person.

HEIR APPARENT

One who expects to be receive property from the estate of a family member, as long as she outlives that person.

SAMPLE LEGAL CASES

IN RE ESTATE OF PALMER

... According to Fivecoat, the Palmers wanted to make a charitable contribution to World Gospel Mission after hearing his presentation on estate planning and charitable giving at an annual World Gospel Mission missionary conference. ...

IN RE DISCIPLINARY PROC. AGAINST BOTIMER

... The complaint alleged three counts of violating the RPCs stemming from Botimer's representation of Ruth in her tax, business, and estate planning matters. ... Botimer also assisted Ruth on estate planning matters, while advising Jan as a potential beneficiary of Ruth's estate. ...

State v. Thompson

... She said they needed the gifting power provided by the second power of attorney in order to do "estate planning" for Crawford. She said they spent Crawford's money on their charter business because it was a safer investment than the stock market. ...

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