Someone appointed by a probate court to oversee probate proceedings when a person dies without a will or heirs, and his or her property is expected to pass to t... (more...)

Someone appointed by a probate court to oversee probate proceedings when a person dies without a will or heirs, and his or her property is expected to pass to the state. Some states have public administrators who are responsible for temporarily preserving the assets of an estate if there are disputes about specific provisions in the will or about who will be appointed the regular administrator.

CHARITABLE TRUST

Any trust designed to make a substantial gift to a charity and also achieve income and estate tax savings for the person who creates the trust (the grantor).

GENERATION-SKIPPING TRANSFER TAX

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 ... (more...)

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.

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.

DEVISEE

A person or entity who inherits real estate under the terms of a will.

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.

WARRANTY DEED

A seldom-used type of deed that contains express assurances about the legal validity of the title being transferred.

Viola Estate Lawyer, Arkansas

SPONSORED LAWYERS

Charles Henry Pankey

Jacob Lee Newton

James Clyde Johnson

Jeremy D. Friend

Kerry D. Chism

Lane H. Strother

Mark Randall Johnson

Michelle Cushman Huff

Norman Carl Wilber

Paul Allen Bayless

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FUNDING A TRUST

PUBLIC ADMINISTRATOR

CHARITABLE TRUST

GENERATION-SKIPPING TRANSFER TAX

SPRINKLING TRUST

DEVISEE

INHERITANCE TAXES

WARRANTY DEED

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