Wayland Estate Planning Lawyer, Michigan
Includes: Gift Taxation
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1-3 of 3 matches. Page 1 of 1
Kristan A. Newhouse
Estate Planning, Adoption, Juvenile Law, Children's Rights
Status: In Good Standing Licensed: 39 Years
7932 Byron Station Ct Sw, Byron Center, MI 49315
Profile LAWPOINTS™34/100
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Douglas J. Van Der Aa
International, Gift Taxation, Estate Planning, Estate
Status: In Good Standing Licensed: 39 Years
8667 Woodhaven Dr Sw, Byron Center, MI 49315
Profile LAWPOINTS™22/100
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David E. Jensen
International, Gift Taxation, Estate Planning, Estate
Status: In Good Standing Licensed: 51 Years
Caledonia, MI 49316
Profile LAWPOINTS™17/100
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LEGAL TERMS
BEQUEATH
A legal term sometimes used in wills that means 'leave' -- for example, 'I bequeath my garden tools to my brother-in-law, Buster Jenkins.'
SECONDARY MEANING
In trademark law, a mark that is not inherently distinctive becomes protected after developing a 'secondary meaning': great public recognition through long use ... (more...)
In trademark law, a mark that is not inherently distinctive becomes protected after developing a 'secondary meaning': great public recognition through long use and exposure in the marketplace. For example, though first names are not generally considered inherently distinctive, Ben & Jerry's Ice Cream has become so well known that it is now entitled to maximum trademark protection.
AB TRUST
A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of... (more...)
A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of the property goes to the beneficiaries named in the trust -- commonly, the grown children of the couple -- with the crucial condition that the surviving spouse has the right to use the property for life and is entitled to any income it generates. The surviving spouse may even be allowed to spend principal in certain circumstances. When the surviving spouse dies, the property passes to the trust beneficiaries. It is not considered part of the second spouse's estate for estate tax purposes. Using this kind of trust keeps the second spouse's taxable estate half the size it would be if the property were left directly to the spouse. This type of trust is also known as a bypass or credit shelter trust.
TRUSTEE
The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income ... (more...)
The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income or principal as directed in the trust document. With a simple probate-avoidance living trust, the person who creates the trust is also the trustee.
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.
PETITION
A formal written request made to a court, asking for an order or ruling on a particular matter. For example, if you want to be appointed conservator for an elde... (more...)
A formal written request made to a court, asking for an order or ruling on a particular matter. For example, if you want to be appointed conservator for an elderly relative, you must file a petition with a court. See also complaint.
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.
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.
KINDRED
Under some state's probate codes, all relatives of a deceased person.
SAMPLE LEGAL CASES
IN RE ESTATE OF SOUTHWORTH
... Margaret Noe. In February 2005, the decedent consulted Noe for estate planning advice.
The ... estate plan. The representative offered to meet with the decedent and answer any
questions regarding estate planning and the college. Despite ...
IN RE HAYES
... In addition, the survivor may amend or revoke the trust." [Brief at 8, citing Michigan Estate
Planning Handbook (Carol J. Karr ed., ICLE 2d ed, 2006), ch 22, § 22.4.]. ... [Michigan Estate
Planning Handbook (Carol J. Karr ed., ICLE 2d ed, 2006), ch 22, § 22.4.]. ...
Charfoos v. Schultz
... including trust documents, as in this case. Bullis v Downes, 240 Mich App 462, 468;
612 NW2d 435 (2000) (no distinction made among varieties of modern estate
planning tools). Here, the trial court prohibited plaintiffs from ...
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