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Brandon Trusts Lawyer, Mississippi

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William B Howell Ltd

Real Estate, Trusts, Credit & Debt
Status:  In Good Standing           
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406 Orchard Park, Ridgeland, MS 39157
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Ken Harmon

Real Estate, Oil & Gas, Trusts, Estate Planning
Status:  In Good Standing           
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190 East Capitol Street, Jackson, MS 39201
Profile LAWPOINTS™34/100
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Robert Franklin Cooper

Government, Wills, Trusts, Estate
Status:  In Good Standing           
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1335 Linden Pl, Jackson, MS 39202
Profile LAWPOINTS™17/100
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LEGAL TERMS

ENTITY

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from i... (more...)
An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, estate or government agency. The entity is treated like a person; it can function legally, be sued, and make decisions through agents.

HEIR APPARENT

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

RESIDUARY ESTATE

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court c... (more...)
The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court costs are paid. The residuary estate also includes any gifts under a will that fail or lapse. For example, Connie's will leaves her house and all its furnishings to Andrew, her VW bug to her friend Carl, and the remainder of her property (the residuary estate) to her sister Sara. She doesn't name any alternate beneficiaries. Carl dies before Connie. The VW bug becomes part of the residuary estate and passes to Sara, along with all of Connie's property other than the house and furnishings. Also called the residual estate or residue.

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.'

ESTATE PLANNING

The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your... (more...)
The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your estate may involve making a will, living trust, healthcare directives, durable power of attorney for finances or other documents.

SELF-PROVING WILL

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-prov... (more...)
A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-proving when two witnesses sign under penalty of perjury that they observed the willmaker sign it and that he told them it was his will. If no one contests the validity of the will, the probate court will accept the will without hearing the testimony of the witnesses or other evidence. To make a self-proving will in other states, the willmaker and one or more witnesses must sign an affidavit (sworn statement) before a notary public certifying that the will is genuine and that all willmaking formalities have been observed.

ALTERNATE BENEFICIARY

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to ... (more...)
A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to take the property. For example, in his will Jake leaves his collection of sheet music to his daughter, Mia, and names the local symphony as alternate beneficiary. When Jake dies, Mia decides that the symphony can make better use of the sheet music than she can, so she refuses (disclaims) the gift, and the manuscripts pass directly to the symphony. In insurance law, the alternate beneficiary, usually the person who receives the insurance proceeds because the initial or primary beneficiary has died, is called the secondary or contingent beneficiary.

IRREVOCABLE TRUST

A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.

GRANT DEED

A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as descri... (more...)
A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as described in the deed. This is the most commonly used type of deed. Compare quitclaim deed.

SAMPLE LEGAL CASES

Joel v. Joel

... 10. Jimmy's will devised his property to two trusts, with his attorney, Meador, as trustee of both. Debbie was executrix of Jimmy's estate. ... 684, 690-91, 78 So.2d 758, 760 (1955) (quoting 54 Am.Jur. Trusts § 225). [16] Allred v. Fairchild, 785 So.2d 1064, 1068 (Miss.2001). ...

IN THE MATTER OF ESTATE OF BAUMGARDNER v. Ready

... ROBERT D. JONES, HENRY P. PATE, III, Attorneys for Appellee. BEFORE CARLSON, PJ, RANDOLPH AND KITCHENS, JJ. CARLSON, PRESIDING JUSTICE, FOR THE COURT: ¶ 1. This case involves fifteen years of litigation relating to two testamentary trusts. ...

Wright v. O'DANIEL

... The statute of limitations applicable to actions involving constructive trusts provides in pertinent part: ... Janet filed her complaint seeking the imposition of a constructive trust on October 23, 2007, well within the ten-year limitations period applicable to constructive trusts. ...

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