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Michael Jay Bond Lawyer

Michael Jay Bond

Estate Planning
Jan  Copley Lawyer

Jan Copley

Estate Planning, Business, Elder Law, Wills & Probate

Jan has been a lawyer for more than thirty years, primarily working on estate planning, elder law and Medi‑Cal planning matters. She founded her own... (more)

Linda Moravec Varga Lawyer

Linda Moravec Varga

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Tax, Estate, Wills & Probate, Trusts, Estate Planning

Moravec, Varga & Mooney, provides their clients with the highest quality legal services in the areas of Estate Planning, Probate, Trust Administration... (more)

John Joseph Stanton Lawyer

John Joseph Stanton

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Estate, Divorce & Family Law, Trusts, Estate Planning

Hiring a lawyer can be intimidating. Stepping into a lawyer's office can be even more stressful. At our firm, however, we strive to take the stress ou... (more)

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Harry A Mirchandaney Lawyer

Harry A Mirchandaney

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Divorce, Family Law, Estate Planning, Trusts, Wills & Probate

Attorney Harry Mirchandaney counsels clients throughout Southern California on Estate Planning, Advanced Estate Planning, Asset Protection, Entity For... (more)

Kalab  Honey Lawyer

Kalab Honey

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Business, Real Estate, Lawsuit & Dispute, Employment, Estate Planning
Effective. Efficient. Client Oriented | Business & RealEstate Legal Representation

Our Orange County law firm provides effective and aggressive legal representation while making the process as efficient as possible. Our objective is ... (more)

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Nina E. Daly

Criminal, Estate Planning, Family Law, Litigation, Real Estate
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David T. DiBiase

Bad Faith Insurance, Criminal, Estate Planning, Family Law, Banking & Finance
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Allan J. Graf

Family Law, Corporate, Estate Planning, Real Estate, Litigation
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James M. Polish

Family Law, Corporate, Estate Planning, Ethics, Real Estate
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LEGAL TERMS

MARITAL LIFE ESTATE TRUST

See AB trust.

DEVISEE

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

DOWER AND CURTESY

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') ... (more...)
A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') refers to the portion to which a surviving wife is entitled, while curtesy refers to what a man may claim. Until recently, these amounts differed in a number of states. However, because discrimination on the basis of sex is now illegal in most cases, most states have abolished dower and curtesy and generally provide the same benefits regardless of sex -- and this amount is often known simply as the statutory share. Under certain circumstances, a living spouse may not be able to sell or convey property that is subject to the other spouse's dower and curtesy or statutory share rights.

DEATH TAXES

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who... (more...)
Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who inherit property.

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)
A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

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.

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.

TESTAMENTARY TRUST

A trust created by a will, effective only upon the death of the willmaker.

SPRINKLING TRUST

A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

SAMPLE LEGAL CASES

Murphy v. Murphy

... The probate court has discretion, circumscribed by the statutory scheme, to order a "substituted judgment" that authorizes a conservator on behalf of a conservatee to take necessary or desirable action to facilitate estate planning, when a reasonably prudent person in the ...

In re Estate of Young

... her lawyer at the time, Dennis Burns. Mr. Burns represented her for 15 years for estate planning purposes and a bankruptcy of one of Young's businesses, Green Thumb Nursery. In the 1991 estate plan, Charles was expressly ...

Chang v. Lederman

... 2. The Law Regarding Liability for Negligence in Estate Planning to Intended or Potential Beneficiaries. ... Nevertheless, the attorney prepared new estate planning documents that fundamentally changed the plan and made a substantial gift to Michael. ...