Tahuya Trusts Lawyer, Washington
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LEGAL TERMS
CURATOR
See conservator.
ADEMPTION
The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she di... (more...)
The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she dies. Often this happens because the property has been sold, destroyed or given away to someone other than the beneficiary named in the will. A bequest may also be adeemed when the will maker, while still living, gives the property to the intended beneficiary (called 'ademption by satisfaction'). When a bequest is adeemed, the beneficiary named in the will is out of luck; he or she doesn't get cash or a different item of property to replace the one that was described in the will. For example, Mark writes in his will, 'I leave to Rob the family vehicle,' but then trades in his car in for a jet ski. When Mark dies, Rob will receive nothing. Frustrated beneficiaries may challenge an ademption in court, especially if the property was not clearly identified in the first place.
PUBLISHED WORK
An original work of authorship that is considered published for purposes of copyright law. A work is 'published' when it is first made available to the public o... (more...)
An original work of authorship that is considered published for purposes of copyright law. A work is 'published' when it is first made available to the public on an unrestricted basis. It is thus possible to display a work, or distribute it with restrictions on disclosure of its contents, without actually 'publishing' it. Both published and unpublished works are entitled to copyright protection, but some of the rules differ.
DISTRIBUTEE
(1) Anyone who receives something. Usually, the term refers to someone who inherits a deceased person's property. If the deceased person dies without a will (ca... (more...)
(1) Anyone who receives something. Usually, the term refers to someone who inherits a deceased person's property. If the deceased person dies without a will (called intestate), state law determines what each distributee will receive. Also called a beneficiary.
TRUST DEED
The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to... (more...)
The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to a trustee -- often a title company -- who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.
MARITAL LIFE ESTATE TRUST
See AB trust.
SURVIVING SPOUSE'S TRUST
If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.
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.
CERTIFICATION OF TRUST
See abstract of trust.
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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