Pauline Estate Planning Lawyer, South Carolina
Includes: Gift Taxation
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Richard Jay Smith
Estate Planning, Wrongful Death, Products Liability, Personal Injury
Status: In Good Standing
Spartanburg, SC 29304
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Easily find Pauline Estate Planning Lawyers and Pauline Estate Planning Law Firms. For more attorneys, search all Estate areas including Trusts, Wills & Probate and Power of Attorney attorneys.
LEGAL TERMS
GRANT DEED
A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as descri... (more...)
A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as described in the deed. This is the most commonly used type of deed. Compare quitclaim deed.
INVENTORY
A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or admini... (more...)
A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or administrator of the estate is responsible for making and filing the inventory.
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.
SUCCESSION
The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which d... (more...)
The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which determine who inherits property when someone dies without a valid will. When used in connection with real estate, the word refers to the passing of property by will or inheritance, as opposed to gift, grant, or purchase.
LIFE BENEFICIARY
A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.
ENTITY
An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from i... (more...)
An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, estate or government agency. The entity is treated like a person; it can function legally, be sued, and make decisions through agents.
ENDOWMENT INSURANCE
Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death.... (more...)
Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death. If the policy-holder dies sooner, the beneficiary named in the policy receives the proceeds.
INTESTATE
The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.
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.
SAMPLE LEGAL CASES
Rydde v. Morris
... Knight to prepare her estate plan. Morris provided Knight with an estate planning
questionnaire. Knight returned the estate planning questionnaire to Morris on
Thursday, September 22, 2005. Appellants Robert A. Rydde and ...
Gibson v. Bank of America, NA
... widow of Mitchell's nephew. Within a few weeks after Mitchell's arrival in South
Carolina, Gibson contacted her estate planning attorney to inquire about estate
planning services for Mitchell, who was very affluent. As a result ...
In re Dahle
... O. In or about 1991, Ms. McKinney and her husband obtained estate-planning documents.
Ms. McKinney's husband died in 1992. P. On December 4, 1995, Ms. McKinney consulted
with Respondent to have him review her estate planning. ...
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