Pierre Trusts Lawyer, South Dakota
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Wade L. Fischer
Construction, State Government, Wills & Probate, Workers' Compensation
Status: In Good Standing
Pierre, SD 57501
Profile LAWPOINTS™22/100
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206 West Missouri Avenue, Pierre, SD 57501
Profile LAWPOINTS™29/100
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115 E Sioux Ave, Pierre, SD 57501
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William M. Van Camp
Business & Trade, Trusts, Corporate, Commercial Real Estate, Workers' Compensation
Status: In Good Standing
Pierre, SD 57501
Profile LAWPOINTS™22/100
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319 South Coteau Street, Pierre, SD 57501
Profile LAWPOINTS™34/100
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Richard P. Tieszen
Real Estate, Estate, Workers' Compensation, Administrative Law
Status: In Good Standing
Pierre, SD 57501
Profile LAWPOINTS™22/100
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Richard H. Wendt
Divorce & Family Law, Criminal, Estate Planning, Family Law
Status: In Good Standing
122 N Washington Ave., Pierre, SD 57501
Profile LAWPOINTS™17/100
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Laura Lindsay Clark
Litigation, Estate, Family Law, Divorce & Family Law
Status: In Good Standing Licensed: 19 Years
1205 N Harrison Ave, Pierre, SD 57501
Profile LAWPOINTS™36/100
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Rose Ann Wendell
Traffic, Estate, Divorce & Family Law, DUI-DWI, Native People
Status: In Good Standing
2520 E Franklin St., Pierre, SD 57501
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Katie J Thompson
Felony, Search & Seizure Protections, Criminal, Divorce & Family Law, Estate
Status: In Good Standing
FREE CONSULTATION 
CONTACT 117 East Capitol, Pierre, SD 57501
Profile LAWPOINTS™65/100
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LEGAL TERMS
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.
ADMINISTRATION (OF AN ESTATE)
The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. I... (more...)
The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. If not, the court appoints someone, who is generally known as the administrator. In some states, the person is called the 'personal representative' in either instance.
SPECIAL ADMINISTRATOR
(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a spe... (more...)
(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a special administrator with particular expertise on art might be appointed to oversee the probate of a wealthy person's art collection, but not the entire estate. (2) A person appointed to be responsible for a deceased person's property for a limited time or during an emergency, such as a challenge to the will or to the qualifications of the named executor. In such cases, the special administrator's duty is to maintain and preserve the estate, not necessarily to take control of the probate process
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.
LIFE INSURANCE
A contract in which an insurance company agrees to pay money to a designated beneficiary upon the death of the policy holder. In exchange, the policyholder pays... (more...)
A contract in which an insurance company agrees to pay money to a designated beneficiary upon the death of the policy holder. In exchange, the policyholder pays a regularly scheduled fee, known as the insurance premiums. The purpose of life insurance is to provide financial support to those who survive the policyholder, such as family members or business partners. When the policyholder dies, the insurance proceeds pass to the beneficiaries free of probate, though they are counted for federal estate tax purposes. group life insurance Life insurance available through an employer or association that covers participating employees and members under one master insurance policy. Most group life insurance policies are term insurance policies, that terminate when the member or employee reaches a certain age or leaves the organization and do not accumulate any cash surrender value. term life insurance No-frills life insurance, with neither cash surrender value nor loan value (an amount that can be used as collateral for a loan). Term life insurance provides a pre-set amount of coverage if the policyholder dies during the period of time specified in the policy. Policyholders usually have the option to renew at the end of the term for the period of years specified in the policy. Unlike whole life insurance, premiums generally increase as the insured person gets older and the risk of death increases.universal life insurance A type of whole life insurance that offers some additional features and advantages. Like whole life insurance, universal life insurance accumulates cash value through investment of the premium payments. The unique feature of universal life insurance is that it has variable premiums, benefits and payment schedules, all of which are tied to market interest rates and the performance of the investment portfolio. Also, universal life plicies normally provide you with more consumer information. For example, you are told how much of your policy payments goes for insurance company overhead expenses, reserves and policy proceed payments, and how much is retained and invested for your savings. This information isn't usually provided with whole life policies.variable life insurance A type of whole life insurance in which the amount of death benefits varies, depending on the performance of investments. The insurance company places some or all of the fixed premium payments into an investment account; some companies let the insured person decide how the money is invested. The policyholder bears the risk of investment losses, though there is a guaranteed minimum benefit payment. One benefit of variable insurance is that interest and dividend income from the investment account is not taxed until it is paid out to the policyholder.variable universal life insurance A type of whole life insurance that provides greater potential for financial gain--and brings greater risks. Like universal life insurance, variable universal life insurance offers flexible premiums, payment schedules and benefits. But variable universal life policies are riskier because the premiums are invested in stocks, rather than more predictable money market accounts and bonds. Also called universal variable life insurance.whole life insurance Life insurance that provides coverage for the entire life of the policyholder, who pays the same fixed premium throughout his or her life. The policy builds up cash reserves that may be paid out to the policyholder when he or she surrenders or partially surrenders the policy or uses the cash reserves to fund low-interest loans. The annual increase in the cash value of the policy is not taxed. If the policyholder surrenders the policy, a portion of the payment is not taxable. Also called straight life insurance or ordinary life insurance.
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.
FAMILY POT TRUST
See pot trust.
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.
ESTATE TAXES
Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and... (more...)
Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and whether or not it goes through probate after your death, is subject to federal estate tax. Currently, however, federal estate tax is due only if your property is worth at least $2 million when you die. The estate tax is scheduled to be repealed for one year, in 2010, but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.
SAMPLE LEGAL CASES
In re Conservatorship of Didier
... Barbara Didier-Stager (Barbara), Evelyn's daughter and a beneficiary of the trusts, objected. ...
The circuit court disagreed, authorizing the Conservator to exercise the power of the trustee
"in the place and stead of Evelyn" in both trusts. Barbara appeals. ...
In re Reese Trust
... Ronald Chester, George Gleason Bogert & George Taylor Bogert, The Law of Trusts and
Trustees § 431 (3d ed. 2005). [¶ 8.] With regard to parties in a cy pres proceeding: ... [¶ 11.]
SDCL 55-9-4 appears in SDCL chapter 55-9 on charitable trusts. ...
Peterson v. Feldmann
... [¶ 3.] In July 2001, Laurence and May executed living trusts. The farm property was
placed in the trusts. The trusts provided that upon the death of the trustors, Peterson
had an option to purchase the property at its appraised value. ...
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