Moulton Wills & Probate Lawyer, Iowa
Includes: Estate Administration, Living Wills, Wills
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49582 State Highway 14, Chariton, IA 50049
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First National Bank Building, Fairfield, IA 52556
Profile LAWPOINTS™29/100
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LEGAL TERMS
DISCHARGE (OF PROBATE ADMINISTRATOR)
A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties hav... (more...)
A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties have been completed but may happen sooner if the executor or administrator wishes to withdraw or is dismissed.
KINDRED
Under some state's probate codes, all relatives of a deceased person.
INHERIT
To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will... (more...)
To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will. Currently, however, the word is used whenever someone receives property from the estate of a deceased person.
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.
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.
SPECIFIC BEQUEST
A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequ... (more...)
A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequest fails. In other words, the beneficiary cannot substitute a similar item in the estate. Example: If John leaves his 1954 Mercedes to Patti, and when John dies the 1954 Mercedes is long gone, Patti doesn't receive John's current car or the cash equivalent of the Mercedes. See ademption.
TESTAMENTARY TRUST
A trust created by a will, effective only upon the death of the willmaker.
PROBATE
The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased pers... (more...)
The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased person's affairs identifying and inventorying the deceased person's property paying debts and taxes identifying heirs, and distributing the deceased person's property according to the will or, if there is no will, according to state law. Formal court-supervised probate is a costly, time-consuming process -- a windfall for lawyers -- which is best avoided if possible.
INCOMPETENCE
The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at ... (more...)
The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at which the person is present and/or represented by an attorney. A finding of incompetence may lead to the appointment of a conservator to manage the person's affairs. Also known as 'incompetency.'
SAMPLE LEGAL CASES
IOWA SUPREME COURT ATTY. DISCIPLINARY BD. v. Casey
... The Iowa Supreme Court Disciplinary Board alleged the respondent, Marc Casey, violated ethical
rules by neglecting client matters, failing to timely disburse funds, misrepresenting the status
of an estate to the court, prematurely taking probate fees, and failing to cooperate with ...
IOWA SUPREME COURT ATTY. DIS. BD. v. Wagner
... The Iowa Supreme Court Disciplinary Board alleged the respondent, James L. Wagner, violated
ethical rules by neglecting client matters, prematurely taking probate fees, misrepresenting the
status of an estate to the court, failing to deposit unearned fees in his trust account ...
IOWA SUPREME COURT ATTY. DISC. BD. v. Marks
... In this disciplinary action, Samuel Z. Marks neglected two probate estates and failed to cooperate
with the Iowa Supreme Court Attorney Disciplinary Board ("Board"). ... The Board alleged Marks
neglected two probate matters and failed to cooperate with the Board's investigation. ...
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