Mount Berry Trusts Lawyer, Georgia

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Virginia B. Harman

Federal Trial Practice, Trusts, Contract, Credit & Debt
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Tim Crouch

Criminal, Family Law, Wills & Probate, Trusts, Divorce & Family Law
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Kristy L. Treadaway

Real Estate, Wills & Probate, Trusts, Family Law
Status:  In Good Standing           Licensed:  21 Years

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By submitting this lawyer request, I confirm I have read and agree to the Consent to Receive Email, Phone, Text Messages, Terms of Use, and Privacy Policy. Information provided is not privileged or confidential.

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LEGAL TERMS

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.

FAILURE OF ISSUE

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

LIFE BENEFICIARY

A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.

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.

BENEFICIARY

A person or organization legally entitled to receive benefits through a legal device, such as a will, trust or life insurance policy.

SURVIVING SPOUSE'S TRUST

If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.

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.

GRANTOR

Someone who creates a trust. Also called a trustor or settlor.

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.

SAMPLE LEGAL CASES

Cronic v. Baker

... Subsequently, the Attorney General of Georgia brought suit against Cronic in superior court, contending that both Item III(4) and III(5) of the Will created charitable trusts and that Cronic breached his fiduciary duties by failing to fully fund them. ...

Hood v. Todd

... trustee of the respective residuary trust established for her benefit. No other trustees of any other potential trusts (other than a successor trustee) are named. Todd claims to be Buffington's biological daughter, asserting that she ...

PRICEWATERHOUSECOOPERS, LLP v. Bassett

... A Cobb County jury returned a $10 million verdict in favor of William Bassett as the trustee for four private trusts in the trusts' claim for negligent misrepresentation against the accounting firm Pricewaterhouse-Coopers, LLP ("PwC"), as the successor to Coopers & Lybrand, LLP ...