Acton Estate Lawyer, Montana

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and whether or not it goes through probate after your death, is subject to federal estate tax. Currently, however, federal estate tax is due only if your property is worth at least $2 million when you die. The estate tax is scheduled to be repealed for one year, in 2010, but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must have a state license and be supervised by a real estate broker. Most agents are completely dependent upon commissions from sellers for their income, so it pays to find out which side the agent represents (buyer, seller or both) before you place too much trust in the agent's opinion.

Latin meaning 'in fear.' This phrase is used to describe provisions in contracts or wills meant to scare a person into complying with the terms of the agreement. For example, a will might state that an heir will forfeit her inheritance if she challenges the validity of the will. Of course, if the will is challenged and found to be invalid, then the clause itself is also invalid and the heir takes whatever she would have inherited if there were no will.

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.

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court costs are paid. The residuary estate also includes any gifts under a will that fail or lapse. For example, Connie's will leaves her house and all its furnishings to Andrew, her VW bug to her friend Carl, and the remainder of her property (the residuary estate) to her sister Sara. She doesn't name any alternate beneficiaries. Carl dies before Connie. The VW bug becomes part of the residuary estate and passes to Sara, along with all of Connie's property other than the house and furnishings. Also called the residual estate or residue.

A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child born or adopted after the will is made may be deemed a pretermitted heir. If the court determines that an heir was accidentally omitted, that heir is entitled to receive the same share of the estate as she would have if the deceased had died without a will. A pretermitted heir is sometimes called an 'omitted heir.'

A defendant's court papers that seek to reverse the thrust of the lawsuit by claiming that it was the plaintiff -- not the defendant -- who committed legal wrongs, and that as a result it is the defendant who is entitled to money damages or other relief. Usually filed as part of the defendant's answer -- which also denies plaintiff's claims -- a counterclaim is commonly but not always based on the same events that form the basis of the plaintiff's complaint. For example, a defendant in an auto accident lawsuit might file a counterclaim alleging that it was really the plaintiff who caused the accident. In some states, the counterclaim has been replaced by a similar legal pleading called a cross-complaint. In other states and in federal court, where counterclaims are still used, a defendant must file any counterclaim that stems from the same events covered by the plaintiff's complaint or forever lose the right to do so. In still other states where counterclaims are used, they are not mandatory, meaning a defendant is free to raise a claim that it was really the plaintiff who was at fault either in a counterclaim or later as part of a separate lawsuit.