North Chicago Estate Planning Lawyer, Illinois, page 4

Sponsored Law Firm


Includes: Gift Taxation

Amy Goldsmith

Tax, Litigation, Estate Planning, Business & Trade
Status:  In Good Standing           Licensed:  40 Years

Andrew Semmelman

Estate Planning, Estate, Transactions, Corporate
Status:  In Good Standing           Licensed:  66 Years

Andrew Alan Semmelman

Estate Planning, Estate, Transactions, Corporate
Status:  In Good Standing           Licensed:  66 Years

Tara R Kaesebier

International, Gift Taxation
Status:  In Good Standing           Licensed:  23 Years

James Howard

Tax, International Tax, Estate Planning, Criminal
Status:  In Good Standing           Licensed:  18 Years

James K. Howard

International Tax, International, Estate Planning, Criminal
Status:  In Good Standing           Licensed:  18 Years

Steven Lunardi

Traffic, Estate Planning, Divorce, DUI-DWI
Status:  In Good Standing           Licensed:  50 Years

Charvis Rahsaan Walker

Traffic, Estate Planning, Divorce & Family Law, Criminal
Status:  In Good Standing           Licensed:  23 Years

Douglas Stiles

Wills & Probate, Estate Planning, Estate, Transactions
Status:  In Good Standing           Licensed:  49 Years

Douglas William Stiles

Commercial Real Estate, Estate Planning, Estate, Transactions
Status:  In Good Standing           Licensed:  49 Years

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

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800-943-8690

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Easily find North Chicago Estate Planning Lawyers and North Chicago Estate Planning Law Firms. For more attorneys, search all Estate areas including Trusts, Wills & Probate and Power of Attorney attorneys.

LEGAL TERMS

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.

GROSS ESTATE

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)
For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.

PROPERTY CONTROL TRUST

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who ha... (more...)
Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who have special physical, emotional or other requirements, (2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and (3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.

SUCCESSOR TRUSTEE

The person or institution who takes over the management of trust property when the original trustee has died or become incapacitated.

FAILURE OF ISSUE

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

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)
1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

HEIR APPARENT

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

TRUST MERGER

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)
Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.

INTER VIVOS TRUST

The Latin name, favored by some lawyers, for a living trust. 'Inter vivos' is Latin for 'between the living.'

SAMPLE LEGAL CASES

Dunn v. Patterson

... for them. The circuit court of Will County entered judgment on the pleadings, finding, as a matter of law, that provisions in certain estate planning documents prepared by defendant were contrary to public policy and void. The ...

Fitch v. McDermott, Will and Emery, LLP

... Around the same time, defendants Joseph Dietrich and John Dietrich (hereafter the Dietrichs), both certified public accountants, provided financial and accounting services for estate planning purposes to Victoria and her husband, plaintiff Thomas Fitch. ...

In re Estate of Henry

... Accordingly, the estate petitioned the court to allow the estate to execute estate planning documents for Henry which, it contended, were consistent with his known wishes and which would be "free from the taint of the undue influence and fraud which was assembled upon the ...