Pleasant Grove Estate Planning Lawyer, Arkansas, page 2


Includes: Gift Taxation

Jacob Lee Newton

General Practice
Status:  In Good Standing           Licensed:  23 Years

Rebecca Linz Lynn

Estate
Status:  In Good Standing           Licensed:  43 Years

William White

Estate, Employment Discrimination, Personal Injury, Accident & Injury
Status:  In Good Standing           

William Ernest Bishop

International, Wills & Probate, Employment, Divorce & Family Law
Status:  In Good Standing           Licensed:  51 Years

Michelle Cushman Huff

Estate, Divorce & Family Law, Contract, Credit & Debt
Status:  In Good Standing           

John Childs Aldworth

Real Estate, Estate, Divorce & Family Law, Accident & Injury
Status:  In Good Standing           Licensed:  42 Years

Kent Tester

Social Security, Trusts, Criminal, Accident & Injury
Status:  In Good Standing           Licensed:  35 Years

Kent Tester

Social Security, Trusts, Criminal, Accident & Injury
Status:  In Good Standing           Licensed:  35 Years

Nikki L. Cox

Corporate, Commercial Real Estate, Estate, Contract
Status:  In Good Standing           

Lane H. Strother

Dispute Resolution, Wills & Probate
Status:  In Good Standing           Licensed:  45 Years

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LEGAL TERMS

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.

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.

LIFE BENEFICIARY

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

BYPASS TRUST

A trust designed to lessen a family's overall estate tax liability. An AB trust is the most popular kind of bypass trust.

INTESTATE

The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.

FAILURE OF ISSUE

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

ADMINISTRATOR

A person appointed by a probate court to handle the distribution of property of someone who has died without a will, or with a will that fails to name someone t... (more...)
A person appointed by a probate court to handle the distribution of property of someone who has died without a will, or with a will that fails to name someone to carry out this task. administrator ad litem A person appointed by a probate court to represent an estate during a lawsuit. (Ad litem is Latin for 'during the litigation.') An administrator ad litem is appointed only if there is no existing executor or administrator of the estate, or if the executor or administrator has conflicting interests. For example, Jerry's will leaves most of his property to his brother, Jeff, and also names Jeff as executor of the will. But Jerry's sister, Janine, feels that Jerry made the will under improper pressure from Jeff, and brings a lawsuit to challenge it. The court appoints an administrator ad litem to represent Jerry's estate while the lawsuit is in progress. Also known as administrator ad prosequendum, meaning administrator 'during the prosecution.' administrator ad prosequendum See administrator ad litem.administrator cum testamento annexo See administrator with will annexed. administrator de bonis non (DBN) Latin for 'administrator of goods not administered.' This term refers to the person appointed by a probate court to finish probate proceedings when the executor or previous administrator can't finish the job.administrator de bonis non cum testamento annexo (DBNCTA) A baffling title for an administrator appointed by a probate court to take over probate proceedings when the named executor dies, leaving the job unfinished.administrator pendente lite Latin for 'administrator pending litigation.' This term refers to the person appointed by a court to begin probate proceedings during a lawsuit that challenges the will. The administrator pendente lite takes an inventory of the deceased person's property and handles the business affairs of the estate until the dispute is settled. Also called a special administrator.administrator with will annexed An administrator who takes the place of an executor under a will. The administrator steps in either when a will fails to nominate an executor or the named executor is unable to serve. Also called administrator cum testamento annexo or CTA, the Latin version of 'with the will annexed.'

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.'

AUGMENTED ESTATE

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used on... (more...)
In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used only in some states. Its value is calculated only if a surviving spouse declines whatever he or she was left by will and instead claims a share of the deceased spouse's estate. (This is called taking against the will.) The amount of this 'statutory share' or 'elective share' depends on state law.

SAMPLE LEGAL CASES

Sanford v. Murdoch

... [1] As such, documents relevant to her financial and estate planning were in Sanford's possession. Included ... [3] Morgan then requested that Sanford deliver the financial and estate planning documents in his possession to her. Sanford ...

Fitton v. Bank of Little Rock

... She maintains that the conveyance of the property to a revocable trust for estate planning purposes did not destroy her homestead exemption. She also claims that she did not "abandon" her homestead, under Arkansas law, by conveying her property to a revocable trust. ...

Ashley v. Ashley

... Prior to the decedent's death, his attorney, William Haught, prepared several estate-planning documents for the decedent, including a will, a family limited-partnership agreement, and a revocable trust, all of which were executed on April 4, 1997. ...