Cropsey Wills & Probate Lawyer, Illinois
Includes: Estate Administration, Living Wills, Wills
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Thomas L. Brucker
Real Estate, Wills & Probate, Trusts, Divorce & Family Law
Status: In Good Standing Licensed: 47 Years
606 W Oak St, Fairbury, IL 61739
Profile LAWPOINTS™32/100
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Robert Caughey
Tax, Municipal, Wills & Probate, Estate Planning
Status: In Good Standing Licensed: 58 Years
204 N Main St, Pontiac, IL 61764
Profile LAWPOINTS™32/100
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Kathleen A. Finney
Real Estate, Family Law, Trusts, Wills & Probate
Status: In Good Standing Licensed: 33 Years
121 N Garrard, Rantoul, IL 61866
Profile LAWPOINTS™17/100
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LEGAL TERMS
STATUTORY SHARE
The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceas... (more...)
The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse's property, but in some states the exact amount of the spouse's share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.
LETTERS TESTAMENTARY
The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succes... (more...)
The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succession laws.
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.
ACCUMULATION TRUST
A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nic... (more...)
A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation 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.
ABATEMENT
A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other exp... (more...)
A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other expenses. Gifts left in the will are cut back in order to pay taxes, satisfy debts or take care of other gifts that are given priority under law or by the will itself.
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.
EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)
A federal law passed to protect pension rights. ERISA: sets minimum standards for pension plans, guaranteeing that pension rights cannot be unfairly denied to o... (more...)
A federal law passed to protect pension rights. ERISA: sets minimum standards for pension plans, guaranteeing that pension rights cannot be unfairly denied to or taken from a worker provides some protection for workers in the event certain types of pension plans cannot pay the benefits to which workers are entitled, and requires that employers provide full and clear information about employees' pension rights, including the way pension benefits accumulate, how the company invests pension funds, and when and how pension benefits can be collected.
COUNTERCLAIM
A defendant's court papers that seek to reverse the thrust of the lawsuit by claiming that it was the plaintiff -- not the defendant -- who committed legal wron... (more...)
A defendant's court papers that seek to reverse the thrust of the lawsuit by claiming that it was the plaintiff -- not the defendant -- who committed legal wrongs, and that as a result it is the defendant who is entitled to money damages or other relief. Usually filed as part of the defendant's answer -- which also denies plaintiff's claims -- a counterclaim is commonly but not always based on the same events that form the basis of the plaintiff's complaint. For example, a defendant in an auto accident lawsuit might file a counterclaim alleging that it was really the plaintiff who caused the accident. In some states, the counterclaim has been replaced by a similar legal pleading called a cross-complaint. In other states and in federal court, where counterclaims are still used, a defendant must file any counterclaim that stems from the same events covered by the plaintiff's complaint or forever lose the right to do so. In still other states where counterclaims are used, they are not mandatory, meaning a defendant is free to raise a claim that it was really the plaintiff who was at fault either in a counterclaim or later as part of a separate lawsuit.
SAMPLE LEGAL CASES
In re Estate of Ellis
... Bauman was the pastor of the church of which Ellis was a member. When Ellis died in 2003, the
1999 will was admitted to probate. ... The circuit court of Cook County dismissed all counts as
untimely pursuant to section 8-1 of the Probate Act of 1975 (755 ILCS 5/8-1 (West 2006)). ...
Wackrow v. Niemi
... James Woods died in August 2002. Letters of office were issued and Woods' will was admitted
to probate on October 23, 2002. ... The estate did not deliver the property or the $300,000 to plaintiff.
On October 24, 2003, the probate court denied plaintiff's claim against the estate. ...
In re Estate of Feinberg
... freedom. The Probate Act places only two limits on the ability of a testator to choose
the objects of his bounty. ... desire. Under the Probate Act, Max and Erla had no
obligation to make any provision at all for their grandchildren. ...
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