Port Angeles Trusts Lawyer, Washington
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Below are all Port Angeles Estate lawyers.
J Graham Ralston
Estate, Business Organization, Estate Planning, International Other
Status: In Good Standing Licensed: 14 Years
403 S Peabody St, Port Angeles, WA 98362
Profile LAWPOINTS™22/100
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Gail Marie Sumpter
Dispute Resolution, Trusts, Administrative Law, Bankruptcy
Status: Inactive Licensed: 44 Years
383 Riverview Dr, Sequim, WA 98382
Profile LAWPOINTS™26/100
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4343 Sequim-Dungeness Way, Sequim, WA 98382
Profile LAWPOINTS™36/100
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2261 Old Gardiner Rd, Sequim, WA 98382
Profile LAWPOINTS™26/100
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278 A, Friday Harbor, WA 98250
Profile LAWPOINTS™30/100
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Melissa S. Carpenter
Commercial Bankruptcy, Commercial Real Estate, Estate Planning, Real Estate
Status: Inactive Licensed: 55 Years
116 Bluff View Dr, Port Angeles, WA 98363
Profile LAWPOINTS™22/100
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Edward Leonard Douglas
Estate Planning, Estate, Wills, Real Estate
Status: Inactive Licensed: 55 Years
116 Bluff View Dr, Port Angeles, WA 98363
Profile LAWPOINTS™17/100
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James J Lamont
Wills, Estate Planning, Estate, Family Law
Status: In Good Standing Licensed: 55 Years
763 Diamond Vista Dr, Port Angeles, WA 98363
Profile LAWPOINTS™22/100
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253623 Highway 101, Port Angeles, WA 98362
Profile LAWPOINTS™34/100
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Port Angeles, WA 98362
Profile LAWPOINTS™32/100
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LEGAL TERMS
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.
GENERATION-SKIPPING TRANSFER TAX
A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 ... (more...)
A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.
POWER OF APPOINTMENT
The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust o... (more...)
The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust only according to the terms of the trust, but a trustee with a power of appointment can choose the beneficiaries, sometimes from a list of candidates specified by the grantor. For example, Karin creates a trust with power of appointment to benefit either the local art museum, symphony, library or park, depending on the trustee's assessment of need.
EXECUTOR
The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's... (more...)
The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.
LIFE INSURANCE
A contract in which an insurance company agrees to pay money to a designated beneficiary upon the death of the policy holder. In exchange, the policyholder pays... (more...)
A contract in which an insurance company agrees to pay money to a designated beneficiary upon the death of the policy holder. In exchange, the policyholder pays a regularly scheduled fee, known as the insurance premiums. The purpose of life insurance is to provide financial support to those who survive the policyholder, such as family members or business partners. When the policyholder dies, the insurance proceeds pass to the beneficiaries free of probate, though they are counted for federal estate tax purposes. group life insurance Life insurance available through an employer or association that covers participating employees and members under one master insurance policy. Most group life insurance policies are term insurance policies, that terminate when the member or employee reaches a certain age or leaves the organization and do not accumulate any cash surrender value. term life insurance No-frills life insurance, with neither cash surrender value nor loan value (an amount that can be used as collateral for a loan). Term life insurance provides a pre-set amount of coverage if the policyholder dies during the period of time specified in the policy. Policyholders usually have the option to renew at the end of the term for the period of years specified in the policy. Unlike whole life insurance, premiums generally increase as the insured person gets older and the risk of death increases.universal life insurance A type of whole life insurance that offers some additional features and advantages. Like whole life insurance, universal life insurance accumulates cash value through investment of the premium payments. The unique feature of universal life insurance is that it has variable premiums, benefits and payment schedules, all of which are tied to market interest rates and the performance of the investment portfolio. Also, universal life plicies normally provide you with more consumer information. For example, you are told how much of your policy payments goes for insurance company overhead expenses, reserves and policy proceed payments, and how much is retained and invested for your savings. This information isn't usually provided with whole life policies.variable life insurance A type of whole life insurance in which the amount of death benefits varies, depending on the performance of investments. The insurance company places some or all of the fixed premium payments into an investment account; some companies let the insured person decide how the money is invested. The policyholder bears the risk of investment losses, though there is a guaranteed minimum benefit payment. One benefit of variable insurance is that interest and dividend income from the investment account is not taxed until it is paid out to the policyholder.variable universal life insurance A type of whole life insurance that provides greater potential for financial gain--and brings greater risks. Like universal life insurance, variable universal life insurance offers flexible premiums, payment schedules and benefits. But variable universal life policies are riskier because the premiums are invested in stocks, rather than more predictable money market accounts and bonds. Also called universal variable life insurance.whole life insurance Life insurance that provides coverage for the entire life of the policyholder, who pays the same fixed premium throughout his or her life. The policy builds up cash reserves that may be paid out to the policyholder when he or she surrenders or partially surrenders the policy or uses the cash reserves to fund low-interest loans. The annual increase in the cash value of the policy is not taxed. If the policyholder surrenders the policy, a portion of the payment is not taxable. Also called straight life insurance or ordinary life insurance.
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.
INVESTOR
A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes invest... (more...)
A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes investments for others who have entrusted her with their money.
SURROGATE COURT
See probate court.
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.
SAMPLE LEGAL CASES
Jain v. JP Morgan Securities, Inc.
... 3 For the benefit of their children, Jain and his wife Anuradha established three trusts
for which Jain's brother served as trustee. Two ... certificates. Two of the trusts were entitled
to nearly one million shares, and the third to 500,000 shares. ...
BOARD OF TRUSTEES OF GLASSWORKERS & INDUSTRY HEALTH/SECURITY TRUST FUND v. BOOTH GLASS CO.
... In October 2006, the Board of Trustees of the Glassworkers and Industry Health & Security Trust
Fund, Western Glaziers Retirement Trust Fund, and Puget Sound Northwest Glaziers &
Glassworkers Apprenticeship and Training Trust Fund ("the Trusts") filed a complaint for ...
SEVEN v. STOEL RIVES, LLP
... The law firm of Stoel Rives, LLP, prepared a will for Resoff. The will appointed Seven and George
Steers, a lawyer at the firm, co-executors of his estate and co-executors of his testamentary trusts. ...
She sought damages and an equitable portion of several of the trusts. ...
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