Campton Estate Planning Lawyer, Kentucky
Includes: Gift Taxation
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1-3 of 3 matches. Page 1 of 1
26 Broadway, Mount Sterling, KY 40353
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208 Main Street, Irvine, KY 40336
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Farrah Williams Ingram
Real Estate, Estate Planning, Family Law, Insurance
Status: In Good Standing Licensed: 22 Years
26 Broadway, Mount Sterling, KY 40353
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LEGAL TERMS
CERTIFIED COPY
A copy of a document issued by a court or government agency guaranteed to be a true and exact copy of the original. Many agencies and institutions require certi... (more...)
A copy of a document issued by a court or government agency guaranteed to be a true and exact copy of the original. Many agencies and institutions require certified copies of legal documents before permitting certain transactions. For example, a certified copy of a death certificate is required before a bank will release the funds in a deceased person's payable-on-death account to the person who has inherited them.
CURATOR
See conservator.
ADMINISTRATRIX
An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male... (more...)
An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male or female, this person is called the administrator.
GENERATION-SKIPPING TRUST
A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income fro... (more...)
A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income from the trust. Because the children (the middle generation) never legally own the property, it isn't subject to estate tax at their death. See generation-skipping transfer tax.
MINERAL RIGHTS
An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral right... (more...)
An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral rights is usually entitled to either take the minerals from the land himself or receive a royalty from the party that actually extracts the minerals.
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.
PER CAPITA
Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leavin... (more...)
Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leaving children of his or her own. For example, Fred leaves his house jointly to his son Alan and his daughter Julie. But Alan dies before Fred, leaving two young children. If Fred's will states that heirs of a deceased beneficiary are to receive the property per capita, Julie and the two grandchildren will each take a third. If, on the other hand, Fred's will states that heirs of a deceased beneficiary are to receive the property per stirpes, Julie will receive one-half of the property, and Alan's two children will share his half in equal shares (through Alan by right of representation).
TRUST CORPUS
Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, t... (more...)
Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, that money is the corpus. Sometimes the trust corpus is known as the 'res,' a Latin word meaning 'thing.'
IRREVOCABLE TRUST
A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.
SAMPLE LEGAL CASES
Easterly v. METROPOLITAN LIFE INSURANCE COMPANY
... [6]. In January or February of 1990, Easterly met with an estate planning attorney in
Florida and discovered the face value of the policy to be $185,000.00, not the
$235,000.00 they believed they had contracted to purchase in 1989. ...
GRIPSHOVER v. GRIPSHOVER
... prepare documents effectuating a real estate partnership (the Gripshover Family Limited
Partnership #1) and a partnership for the ownership and management of the family farming
business (the Gripshover Family Limited Partnership #2). For estate planning and taxation ...
Fleming v. Toney
... A decree was never entered, but Leon and Janet remained separated until Leon's
death on August 24, 2006. Following the separation, and prior to his death, Leon made
several estate planning decisions without Janet's knowledge. ...
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