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Bryan Klein
About | Practice Areas
The Central Virginia Law Center, PLLC
4026 Wards Road Suite G1 Lynchburg, VA 24502» view map
Divorce & Family, Business, Estate
A Better Way Forward

Dedicated and caring law practice in Central Virginia to assist you in your legal matters.

800-947-2810
1. Bryan Klein Lynchburg, VA
  Attorney at Law- VA
2. AboutThe Central Virginia Law Center, PLLC
  A Better Way Forward
3. Practice AreasExpertise
  Divorce & Family
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Lydia Patricia Myers

Estate Planning, Trusts

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CONTACT

460 Woodhaven Drive, Lynchburg, VA 24502

Susan E. B. Cook

Trusts, Personal Injury, Corporate, Employment Discrimination

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828 Main St, Lynchburg, VA 24504

J. Lee E. Osborne

Trusts, Employment Discrimination, Corporate, Personal Injury

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828 Main St, Lynchburg, VA 24504

Alexander I. Saunders

Trusts, Personal Injury, Corporate, Employment Discrimination

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828 Main St, Lynchburg, VA 24504

Wm. Tracey Shaw

Trusts, Personal Injury, Corporate, Employment Discrimination

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828 Main St, Lynchburg, VA 24504

Kaitlyn Elizabeth Evans Martin

Trusts, Employment Discrimination, Criminal, Personal Injury

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Lynchburg, VA 24505

Joseph C. Knakal

Estate Planning, Business, Trusts

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2306 Atherholt Road, Lynchburg, VA 24501

Holly Brooke Trent

Real Estate, Corporate, Trusts

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2301 Langhorne Road, Lynchburg, VA 24501

Theodore J. Craddock

Litigation, Public Finance, Trusts, Corporate, Commercial Real Estate

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Lynchburg, VA 24505

Robert W. Haley

Elder Law, Estate Planning, Wills & Probate, Estate Administration, Trusts

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810 Main Street, Lynchburg, VA 24504

800-814-6700

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LEGAL TERMS

FINAL BENEFICIARY

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jan... (more...)

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jane receives income for the duration of her life. Their daughter, the final beneficiary, receives the trust principal after Jane's death.

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.

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

IRREVOCABLE TRUST

A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.

FAMILY ALLOWANCE

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to ... (more...)

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to help support the surviving spouse and children during the time it takes to probate the estate. The amount is determined by state law and varies greatly from state to state.

SURROGATE COURT

See probate court.

QTIP TRUST

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the... (more...)

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.

CREDIT SHELTER TRUST

See AB trust.

ADMINISTRATION (OF AN ESTATE)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. I... (more...)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. If not, the court appoints someone, who is generally known as the administrator. In some states, the person is called the 'personal representative' in either instance.

SAMPLE LEGAL CASES

Dodge v. Randolph-Macon Woman's College

... The Attorney General shall have the same authority to act on behalf of the public with respect to such assets as he has with respect 808 to assets held by unincorporated charitable trusts and other charitable entities, including the authority to seek such judicial relief as may be ...

Ladysmith Rescue Squad, Inc. v. Newlin

... At that point, the trustees, the two surviving income beneficiaries and Upper Caroline (the moving parties) moved the court to authorize the trustees to divide the trust into two equal trusts, to be called the "Upper Caroline Trust" and the "Ladysmith Trust." Ladysmith objected to the ...

RUSSELL REALTY ASSOCIATES v. Russell

... The partnership interests were held by Charles Russell, Eddie, individually, and Eddie and Nina as co-trustees of the trusts created for the benefit of Nina and her two sons. Between 1978 and 1985, Charles Russell decreased his partnership interest. ...

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Altavista Trusts Lawyer, Virginia

Sponsored Law Firm

The Central Virginia Law Center, PLLC

SPONSORED LAWYERS

Lydia Patricia Myers

Susan E. B. Cook

J. Lee E. Osborne

Alexander I. Saunders

Wm. Tracey Shaw

Kaitlyn Elizabeth Evans Martin

Joseph C. Knakal

Holly Brooke Trent

Theodore J. Craddock

Robert W. Haley

TIPS

LEGAL TERMS

FINAL BENEFICIARY

SPECIFIC BEQUEST

CONTINGENT BENEFICIARY

IRREVOCABLE TRUST

FAMILY ALLOWANCE

SURROGATE COURT

QTIP TRUST

CREDIT SHELTER TRUST

ADMINISTRATION (OF AN ESTATE)

SAMPLE LEGAL CASES

Dodge v. Randolph-Macon Woman's College

Ladysmith Rescue Squad, Inc. v. Newlin

RUSSELL REALTY ASSOCIATES v. Russell

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