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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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James Clayton Green

Wills & Probate, Child Custody

Status: In Good Standing Licensed: 20 Years

CONTACT

Madison, MS 39130

Rick D Patt

Estate, Divorce & Family Law, Criminal, Accident & Injury

Status: In Good Standing

CONTACT

Madison, MS 39130

William F Brown

Litigation, Wills, Family Law, Civil Rights

Status: In Good Standing Licensed: 34 Years

CONTACT

Madison, MS 39130

William Matthew Burch

Litigation, International Tax, Estate Planning, Bankruptcy

Status: In Good Standing Licensed: 12 Years

CONTACT

Madison, MS 39130

Ernest W Stewart

Real Estate, Lawsuit & Dispute, Estate, Business

Status: In Good Standing Licensed: 46 Years

CONTACT

Madison, MS 39130

Philip Nicklaus Hollimon

Estate Planning, Environmental Law Other, Employment Discrimination, Contract, Oil & Gas

Status: In Good Standing Licensed: 18 Years

CONTACT

Madison, MS 39130

Lindsey Mcgee Turk

Oil & Gas, Trusts, Family Law, DUI-DWI, Business

Status: In Good Standing Licensed: 18 Years

CONTACT

Madison, MS 39130

Ryan Charles Vandeburgh

Real Estate, Estate, Business

Status: In Good Standing

CONTACT

156 Oakdale Rd, Madison, MS 39110

Lindsey Mcgee Turk

Oil & Gas, Trusts, Family Law, DUI-DWI, Business

Status: In Good Standing Licensed: 18 Years

CONTACT

Madison, MS 39130

Philip Nicklaus Hollimon

Real Estate, Oil & Gas, Environmental Law Other, Employment, Estate Planning

Status: In Good Standing Licensed: 18 Years

CONTACT

Madison, MS 39130

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LEGAL TERMS

GRANTOR

Someone who creates a trust. Also called a trustor or settlor.

EXEMPTION TRUST

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth m... (more...)

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest is shielded from tax under the surviving spouse's marital deduction.

DEATH TAXES

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who... (more...)

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who inherit property.

PROPERTY CONTROL TRUST

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who ha... (more...)

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who have special physical, emotional or other requirements, (2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and (3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.

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.

DEED OF TRUST

See trust deed.

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.

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.

PER CAPITA

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leavin... (more...)

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leaving children of his or her own. For example, Fred leaves his house jointly to his son Alan and his daughter Julie. But Alan dies before Fred, leaving two young children. If Fred's will states that heirs of a deceased beneficiary are to receive the property per capita, Julie and the two grandchildren will each take a third. If, on the other hand, Fred's will states that heirs of a deceased beneficiary are to receive the property per stirpes, Julie will receive one-half of the property, and Alan's two children will share his half in equal shares (through Alan by right of representation).

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Madison Estate Lawyer, Mississippi, page 2

Sponsored Law Firm

Lalor Aby & Morgan, PLLC

SPONSORED LAWYERS

James Clayton Green

Rick D Patt

William F Brown

William Matthew Burch

Ernest W Stewart

Philip Nicklaus Hollimon

Lindsey Mcgee Turk

Ryan Charles Vandeburgh

Lindsey Mcgee Turk

Philip Nicklaus Hollimon

TIPS

LEGAL TERMS

GRANTOR

EXEMPTION TRUST

DEATH TAXES

PROPERTY CONTROL TRUST

SUMMARY PROBATE

DEED OF TRUST

STATUTORY SHARE

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

PER CAPITA

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