Perry Trusts Lawyer, Iowa


Matthew D. Gardner

Business Organization, Estate Planning, Federal Appellate Practice, Trusts
Status:  In Good Standing           

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

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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

BANKRUPTCY ESTATE

All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankrup... (more...)
All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankruptcy estate for the duration of your case.

INHERITANCE TAXES

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited prop... (more...)
Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited 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.

LIVING TRUST

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the t... (more...)
A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the trust during your life passes directly to the trust beneficiaries after you die, without court involvement. The successor trustee--the person you appoint to handle the trust after your death--simply transfers ownership to the beneficiaries you named in the trust. Living trusts are also called 'inter vivos trusts.'

BEQUEATH

A legal term sometimes used in wills that means 'leave' -- for example, 'I bequeath my garden tools to my brother-in-law, Buster Jenkins.'

SWEARING MATCH

A case that turns on the word of one witness versus another. The outcome of a swearing match usually depends on whom the jury finds most trustworthy.

PROBATE

The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased pers... (more...)
The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased person's affairs identifying and inventorying the deceased person's property paying debts and taxes identifying heirs, and distributing the deceased person's property according to the will or, if there is no will, according to state law. Formal court-supervised probate is a costly, time-consuming process -- a windfall for lawyers -- which is best avoided if possible.

ADEMPTION

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she di... (more...)
The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she dies. Often this happens because the property has been sold, destroyed or given away to someone other than the beneficiary named in the will. A bequest may also be adeemed when the will maker, while still living, gives the property to the intended beneficiary (called 'ademption by satisfaction'). When a bequest is adeemed, the beneficiary named in the will is out of luck; he or she doesn't get cash or a different item of property to replace the one that was described in the will. For example, Mark writes in his will, 'I leave to Rob the family vehicle,' but then trades in his car in for a jet ski. When Mark dies, Rob will receive nothing. Frustrated beneficiaries may challenge an ademption in court, especially if the property was not clearly identified in the first place.

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.

SAMPLE LEGAL CASES

In re Estate of Gist

... death, to the extent of such interests, including but not limited to interests in jointly held property, retained life estates, and interests in trusts." Id. ... In Barkema, we identified the two classifications of support trusts, a pure support trust and a discretionary support trust. Id. at 53-54. ...

IN THE MATTER OF ESTATE OF McDOWELL

... Jur. 2d Wills § 196, at 403 (2002). Such a provision is authorized under Iowa and Oregon statutes, [2] both adapted from the Uniform Testamentary Additions to Trusts Act (1960) ("UTATA"). ... 1 Austin W. Scott et al., Scott and Ascher on Trusts § 7.1.3, at 352 (Aspen 5th ed. 2006). ...

IN RE MATTER OF TRUST UNDER THE LAST WILL AND TESTAMENT OF WEITZEL

... Bass, 196 NW2d at 435; see also In re Woltersdorf, 255 Iowa 914, 916, 124 NW2d 510, 511 (1963) ("The matter of fees for executors and trustees rests within the sound discretion of the trial court."); Restatement (Third) of Trusts § 38 cmt. ...

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