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Owen Lalor
About | Practice Areas
Lalor Aby & Morgan, PLLC
230 Trace Colony Park Dr. Suite 4 Ridgeland, MS 39157» view map
Estate Law
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If you need an experienced litigation attorney, look no further than Lalor Aby & Morgan, PLLC.

800-758-9910
1. Owen Lalor Ridgeland, MS
  Attorney at Law- MS, 1978
  Vanderbilt University Law School, J.D. 1978
2. AboutLalor Aby & Morgan, PLLC
  Get the Legal Support You Need
3. Practice AreasExpertise
  Estate Law
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Benjamin Powell Sones

Corporate, Entertainment, Credit & Debt, Wills & Probate

Status: In Good Standing Licensed: 19 Years

CONTACT

992 Northpark Dr, Ridgeland, MS 39157

Kathleen R Fewel

Estate Planning, Estate, Family Law, Elder Law

Status: In Good Standing Licensed: 34 Years

CONTACT

406 Orchard Park, Ridgeland, MS 39157

William B Howell Ltd

Real Estate, Trusts, Credit & Debt

Status: In Good Standing

CONTACT

406 Orchard Park, Ridgeland, MS 39157

W McDonald Nichols

Eminent Domain, Estate, Environmental Law, Business

Status: In Good Standing Licensed: 50 Years

CONTACT

401 East Capitol Street, Jackson, MS 39201

D Drew Malone

Accident & Injury, Insurance, Business & Trade, Wills

Status: In Good Standing

CONTACT

1505 Eastover Dr, Jackson, MS 39211

James P. Knight

Tax, Commercial Real Estate, Wills & Probate, Estate Planning, Business Organization

Status: In Good Standing Licensed: 44 Years

CONTACT

300 Highland Park Cove, Ridgeland, MS 39157

Robert Thomas Van Uden

Wills & Probate, Estate, Securities, Banking & Finance, Business

Status: In Good Standing Licensed: 24 Years

CONTACT

281 Trace Colony Park Drive, Ridgeland, MS 39157

Kelli Marche' Dowell

Commercial Real Estate, Land Use & Zoning, Estate Planning

Status: In Good Standing Licensed: 26 Years

CONTACT

115 Britton Cir, Jackson, MS 39232

Ford Andrew Howell

Wills & Probate, Guardianships & Conservatorships, Divorce & Family Law, Credit & Debt

Status: In Good Standing Licensed: 37 Years

CONTACT

513 Keywood Circle, Flowood, MS 39232

James T. Knight

Tax, Wills & Probate, Estate Planning, Corporate

Status: In Good Standing Licensed: 44 Years

CONTACT

300 Highland Park Cove, Ridgeland, MS 39157

800-923-0641

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LEGAL TERMS

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

WILL

A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for you... (more...)

A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for your young children.

OFFICER

A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operation... (more...)

A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operations of the organization. Officers generally hold titles such as President or Treasurer. Many states and most corporate bylaws or LLC operating agreements require a corporation or LLC to have a president, secretary and treasurer. Election of a vice president may be required by state law.

LAPSE

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. S... (more...)

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. Some states have anti-lapse statutes, which prevent gifts to relatives of the deceased person from lapsing unless the relative has no heirs of his or her own. A lapsed gift becomes part of the residuary estate.

CURATOR

See conservator.

AB TRUST

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of... (more...)

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of the property goes to the beneficiaries named in the trust -- commonly, the grown children of the couple -- with the crucial condition that the surviving spouse has the right to use the property for life and is entitled to any income it generates. The surviving spouse may even be allowed to spend principal in certain circumstances. When the surviving spouse dies, the property passes to the trust beneficiaries. It is not considered part of the second spouse's estate for estate tax purposes. Using this kind of trust keeps the second spouse's taxable estate half the size it would be if the property were left directly to the spouse. This type of trust is also known as a bypass or credit shelter trust.

SUMMARY PROBATE

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are ... (more...)

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are complicated, but a few examples include estates worth up to $100,000 in California; New York estates where property, excluding real estate and amounts that must be set aside for surviving family members, is worth $20,000 or less; and Texas estates where the value of property doesn't exceed what is needed to pay a family allowance and certain creditors.

POUR-OVER WILL

A will that 'pours over' property into a trust when the will maker dies. Property left through the will must go through probate before it goes into the trust.

SURVIVING SPOUSE'S TRUST

If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.

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Flowood Estate Lawyer, Mississippi, page 3

Sponsored Law Firm

Lalor Aby & Morgan, PLLC

SPONSORED LAWYERS

Benjamin Powell Sones

Kathleen R Fewel

William B Howell Ltd

W McDonald Nichols

D Drew Malone

James P. Knight

Robert Thomas Van Uden

Kelli Marche' Dowell

Ford Andrew Howell

James T. Knight

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LEGAL TERMS

SPENDTHRIFT TRUST

WILL

OFFICER

LAPSE

CURATOR

AB TRUST

SUMMARY PROBATE

POUR-OVER WILL

SURVIVING SPOUSE'S TRUST

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