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Mount Calvary Trusts Lawyer, Wisconsin

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Charles E. Williams

Real Estate, Wills & Probate, Trusts, Personal Injury
Status:  In Good Standing           Licensed:  47 Years
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128 State St, Oshkosh, WI 54901
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LEGAL TERMS

CREDIT SHELTER TRUST

See AB trust.

PER STIRPES

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living children of his or her own. F... (more...)
Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living 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 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). If, on the other hand, Fred's will states that the property is to be divided per capita, Julie and the two grandchildren will each take a third.

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.

NONPROBATE

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surv... (more...)
The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surviving spouse and property left outside of a will through probate-avoidance methods such as pay-on-death designations, joint tenancy ownership, living trusts and life insurance. Property that avoids probate is sometimes described as the 'nonprobate estate.' Nonprobate distribution may also occur if the deceased person leaves an invalid will. In that case, property will pass according to the particular state's laws of intestate succession.

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.

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).

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.

CONSERVATOR

Someone appointed by a judge to oversee the affairs of an incapacitated person. A conservator who manages financial affairs is often called a 'conservator of th... (more...)
Someone appointed by a judge to oversee the affairs of an incapacitated person. A conservator who manages financial affairs is often called a 'conservator of the estate.' One who takes care of personal matters, such as healthcare and living arrangements, is known as a 'conservator of the person.' Sometimes, one conservator is appointed to handle all these tasks. Depending on where you live, a conservator may also be called a guardian, committee or curator.

HOLOGRAPHIC WILL

A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many stat... (more...)
A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many states, making a holographic will is never advised except as a last resort.

SAMPLE LEGAL CASES

IN THE MATTER OF DISCIPLINARY PROCEEDINGS AGAINST ELVERMAN

... 2 The OLR's complaint had also alleged that by receiving $230,000 in co-trustee fees for work performed on trusts and failing to turn ... 6 In October 1992 Attorney Elverman started as an associate at Quarles & Brady. He was a member of the firm's trusts and estates group. ...

Stevenson v. Stevenson

... [2] It is undisputed that although Jeffery did not report to the trial court that he had interest in any trusts on the date that the parties ... Of the four trusts, the Jane B. Cook 1968 Trust, the Stevenson Children's 1969 Trust and the Jeffery B. Stevenson 1976 Trust were created by others. ...

Hedlund v. WISCONSIN DEPARTMENT OF HEALTH SERVICES

... Stat. § 49.47(4)(b)3g.e. Section 49.454 governs the treatment of trusts. ... Stat. § 49.454(1)(a)4, trusts established with the individual's assets are included even if established by someone other than the individual or person with legal authority to act on behalf of the individual. ...

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