Cinco Bayou Trusts Lawyer, Florida
181 Eglin Pkwy, NE, Fort Walton Beach, FL 32548
Profile LAWPOINTS™47/100
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4 Eleventh Ave., Shalimar, FL 32579
Profile LAWPOINTS™38/100
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Martin W Lester
Real Estate, Immigration, Trusts, Criminal
Status: In Good Standing Licensed: 21 Years
184 Eglin Pkwy NE, Fort Walton Beach, FL 32548
Profile LAWPOINTS™34/100
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Tracy Olson Strom
Bankruptcy, Trusts, Child Custody, Elder Law, Estate
Status: In Good Standing Licensed: 33 Years
204 Buck Dr Ne, Fort Walton Beach, FL 32548
Profile LAWPOINTS™34/100
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Nicholas Gresham Foster
Estate Planning, Commercial Real Estate, Business, Trusts, Estate
Status: In Good Standing Licensed: 13 Years
909 Mar Walt Dr, Fort Walton Beach, FL 32547
Profile LAWPOINTS™34/100
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Catherine Lee Henderson
Estate Planning, Business & Trade, Commercial Real Estate, Trusts
Status: In Good Standing
909 Mar Walt Dr, Fort Walton Beach, FL 32547
Profile LAWPOINTS™34/100
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Larry H Hipsh
International Tax, Trusts, Civil Rights, Corporate
Status: In Good Standing Licensed: 19 Years
Fort Walton Beach, FL 32549
Profile LAWPOINTS™34/100
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1283 Eglin Pkwy, Shalimar, FL 32579
Profile LAWPOINTS™34/100
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Daniel C Perri
International Tax, Trusts, Elder Law, Corporate
Status: In Good Standing Licensed: 53 Years
4 11Th Ave, Shalimar, FL 32579
Profile LAWPOINTS™26/100
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John Thomas Brown
Construction, Mediation, Trusts, Civil Rights
Status: In Good Standing Licensed: 38 Years
1940 Lewis Turner Blvd, Fort Walton Beach, FL 32547
Profile LAWPOINTS™24/100
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LEGAL TERMS
DISCHARGE (OF PROBATE ADMINISTRATOR)
A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties hav... (more...)
A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties have been completed but may happen sooner if the executor or administrator wishes to withdraw or is dismissed.
CREDIT SHELTER TRUST
See AB trust.
MARITAL LIFE ESTATE TRUST
See AB trust.
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.
PUBLIC ADMINISTRATOR
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.
POWER OF APPOINTMENT
The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust o... (more...)
The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust only according to the terms of the trust, but a trustee with a power of appointment can choose the beneficiaries, sometimes from a list of candidates specified by the grantor. For example, Karin creates a trust with power of appointment to benefit either the local art museum, symphony, library or park, depending on the trustee's assessment of need.
INHERIT
To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will... (more...)
To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will. Currently, however, the word is used whenever someone receives property from the estate of a deceased person.
UNIFORM TRANSFER-ON-DEATH SECURITY ACT
A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using... (more...)
A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using a simple form that names a person to receive the property after the owner's death. Every state but Texas has adopted the statute.
DEED OF TRUST
See trust deed.
SAMPLE LEGAL CASES
Doe v. Doe
... [1] The trusts administered by the Trustees include class gifts to the grandchildren
of the settlors, Chester P. Doe, Jr. (Chester Jr.) and Eleanor Warren Doe (Eleanor). ...
I. THE FACTS. A. The Trusts. On June 28, 1988, Chester Jr. ...
Parker v. Shullman
... Each of these trusts had sub-trusts for her daughter Lauri and granddaughter Cassie.
Barbara designated 645 Shullman as the successor trustee of all of the trusts. ... When
Barbara died, Shullman became trustee of the trusts. ...
Timmons v. Ingrahm
... In his will, Frank Sr. created two trusts: the Timmons Family Trust ("Family Trust") and the
Timmons Marital Trust ("Marital Trust"). [1] The Timmons Family Trust was valued at $650,000. ...
Myrtle was the sole income beneficiary of the trusts during her lifetime. ...
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