Newton Upper Falls Estate Lawyer, Massachusetts

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Real Estate, Estate Planning, Family Law, Business Organization
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LEGAL TERMS

NONPROBATE

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surv... (more...)
The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surviving spouse and property left outside of a will through probate-avoidance methods such as pay-on-death designations, joint tenancy ownership, living trusts and life insurance. Property that avoids probate is sometimes described as the 'nonprobate estate.' Nonprobate distribution may also occur if the deceased person leaves an invalid will. In that case, property will pass according to the particular state's laws of intestate succession.

BENEFICIARY

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

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.

GRANTOR

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

TRUST CORPUS

Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, t... (more...)
Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, that money is the corpus. Sometimes the trust corpus is known as the 'res,' a Latin word meaning 'thing.'

TITLE COMPANY

A company that issues title insurance.

TESTAMENTARY TRUST

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

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.

TAKING AGAINST THE WILL

A procedure under state law that gives a surviving spouse the right to demand a certain share (usually one-third to one-half) of the deceased spouse's property.... (more...)
A procedure under state law that gives a surviving spouse the right to demand a certain share (usually one-third to one-half) of the deceased spouse's property. The surviving spouse can take that share instead of accepting whatever he or she inherited through the deceased spouse's will. If the surviving spouse decides to take the statutory share, it's called 'taking against the will.' Dower and curtesy is another name for the same legal process.

SAMPLE LEGAL CASES

IN THE MATTER OF THE ESTATE OF BEAUREGARD

Discussion. When a will is traced to the testator's possession or to where he had ready access to it and the original cannot be located after his death, there are three plausible explanations for the will's absence: (1) the testator destroyed it with the intent to revoke it; (2) the will ...

Equity One, Inc. v. Estate of Williams

72 Mass. App. Ct. 1108 (2008). EQUITY ONE, INC. v. ESTATE OF ALFRED WILLIAMS & others. No. 07-P-493. Appeals Court of Massachusetts. July 16, 2008. Decision Pursuant to Rule 1:28. Judgment reversed.

REAL ESTATE BAR ASSOCIATION FOR MASSACHUSETTS, INC. v. National Real Estate Information Services

William P. O'Donnell, Anthony J. Vigliotti, Robert F. Kelley, John R. Buckley, Jr., F. Sydney Smithers, IV, & Andrea F. Nuciforo, Jr., for Register of Deeds for Berkshire County & others. ... Matthew J. Maiona for the New England Chapter of the American Immigration Lawyers ...