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Delaware City Trusts Lawyer, Delaware


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Beverly J. Wik

Power of Attorney, Trusts, Estate Planning, Estate, Elder Law
Status:  In Good Standing           Licensed:  43 Years
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222 Delaware Street,The Green, New Castle, DE 19720
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Easily find Delaware City Trusts Lawyers and Delaware City Trusts Law Firms. For more attorneys, search all Estate areas including Estate Planning, Wills & Probate and Power of Attorney attorneys.

LEGAL TERMS

MARITAL LIFE ESTATE TRUST

See AB trust.

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.'

SUCCESSOR TRUSTEE

The person or institution who takes over the management of trust property when the original trustee has died or become incapacitated.

PREDECEASED SPOUSE

In the law of wills, a spouse who dies before the will maker while still married to him or her.

SWEARING MATCH

A case that turns on the word of one witness versus another. The outcome of a swearing match usually depends on whom the jury finds most trustworthy.

GROSS ESTATE

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)
For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.

WARRANTY DEED

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

CURATOR

See conservator.

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).

SAMPLE LEGAL CASES

Cargill, Inc. v. JWH SPEC. CIRCUMSTANCE LLC

... With two major carve-outs, the Act explicitly subjects Delaware statutory trusts to existing trust law concepts. Section ... 2. Does the Act itself preempt duties the Cargill Plaintiffs otherwise would have had under the law of trusts? As ...

IN THE MATTER OF LAMMOT DU PONT COPELAND TRUST NO. 5400

... MEMORANDUM OPINION. CHANDLER, Chancellor. This case presents, on summary judgment, the narrow question of whether the assets of two trusts, upon their future termination, are to be distributed to their beneficiaries per stirpes or per capita. ...

IN THE MATTER OF LAST WILL AND TESTAMENT OF DALAND

... The issue before me is whether a validly executed will can be reformed by inserting language intended to exercise testator's powers of appointment over his parents' trusts, language which is alleged to have been omitted mistakenly by the scrivener during the process of drafting ...

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