Grayling Wills & Probate Lawyer, Michigan

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Cortney Gibson
About | Practice Areas
Dulaney Gibson Law and Advocacy
2447 Emerson Ave Bloomfield Hills, MI 48302» view map
Estate Law
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If two heads are better than one, imagine the team WE would make. Simply put...we want your head in the game, too.

800-879-0801
1. Cortney Gibson Bloomfield Hills, MI
  Attorney at Law - MI, 2012
  Thomas M. Cooley Law School J.D.
2. AboutDulaney Gibson Law and Advocacy
  We Have Your Back
3. Practice AreasExpertise
  Estate Law
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Includes: Estate Administration, Living Wills, Wills

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800-923-0641

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LEGAL TERMS

PROVING A WILL

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily sat... (more...)

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily satisfies by showing that the will was signed and dated by the deceased person in front of two or more witnesses. When the will is holographic -- that is, completely handwritten by the deceased and not witnessed, it is still valid in many states if the executor can produce relatives and friends to testify that the handwriting is that of the deceased.

QTIP TRUST

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the... (more...)

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.

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.

AUGMENTED ESTATE

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used on... (more...)

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used only in some states. Its value is calculated only if a surviving spouse declines whatever he or she was left by will and instead claims a share of the deceased spouse's estate. (This is called taking against the will.) The amount of this 'statutory share' or 'elective share' depends on state law.

FAMILY POT TRUST

See pot trust.

REMAINDERMAN

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderma... (more...)

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderman because he will inherit the home in the future, after Alma dies.

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.

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.

TRUST MERGER

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.

SAMPLE LEGAL CASES

In re Temple Marital Trust

... Wallace Temple, Petitioner-Appellant, v. Clinton Probate Court Ralph Temple and Dean Temple, Respondents-Appellees. Docket No. 273911. ... Petitioner petitioned the probate court to construe the trust as not allowing Clarence to amend it after Florence's death. . . . ...

In re Smith Trust

... The respondent refused to sell the property to the petitioners. The petitioners filed a petition in the Sanilac County Probate Court, seeking to compel the sale of the land pursuant to the lease agreement. ... As a result, the probate court held that no enforceable agreement existed. ...

In re Kostin Estate

... In Docket No. 272767, respondent Camille A. Kent appeals as of right the probate court's judgment and order following a bench trial, interpreting a will and trust, determining heirs and devisees, and determining title to property after decedent Juanita Kostin's death in 2004. ...

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Grayling Wills & Probate Lawyer, Michigan

Sponsored Law Firm

Dulaney Gibson Law and Advocacy

SPONSORED LAWYERS

Adam Troy Vernon

Gerard F. Brabant

Jacob M. Collini

Troy B. Daniel

TIPS

LEGAL TERMS

PROVING A WILL

QTIP TRUST

GENERATION-SKIPPING TRUST

AUGMENTED ESTATE

FAMILY POT TRUST

REMAINDERMAN

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

ACCUMULATION TRUST

TRUST MERGER

SAMPLE LEGAL CASES

In re Temple Marital Trust

In re Smith Trust

In re Kostin Estate

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