Clay County, IL Estate Lawyers
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1-3 of 3 matches. Page 1 of 1
Ronald Dale Young
Divorce & Family Law, Elder Law, Estate Planning, Transactions
Status: In Good Standing
111 W. North Avenue, Flora, IL 62839
Profile LAWPOINTS™32/100
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Michael Warren Klobnak
Elder Law, DUI-DWI, Traffic, Estate Planning
Status: Inactive Licensed: 48 Years
Flora, IL 62839
Profile LAWPOINTS™17/100
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Flora, IL 62839
Profile LAWPOINTS™17/100
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LEGAL TERMS
ADMINISTRATRIX
An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male... (more...)
An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male or female, this person is called the administrator.
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.'
POUR-OVER WILL
A will that 'pours over' property into a trust when the will maker dies. Property left through the will must go through probate before it goes into the trust.
INTESTATE SUCCESSION
The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest s... (more...)
The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest surviving relatives. In most states, the surviving spouse, children, parents, siblings, nieces and nephews, and next of kin inherit, in that order.
DISINHERIT
To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit prope... (more...)
To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit property -- a close family member, for example -- should not receive it. In most states, you cannot completely disinherit your spouse; a surviving spouse has the right to claim a portion (usually one-third to one-half) of the deceased spouse's estate. With a few exceptions, however, you can expressly disinherit children.
NONPROBATE
The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surv... (more...)
The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surviving spouse and property left outside of a will through probate-avoidance methods such as pay-on-death designations, joint tenancy ownership, living trusts and life insurance. Property that avoids probate is sometimes described as the 'nonprobate estate.' Nonprobate distribution may also occur if the deceased person leaves an invalid will. In that case, property will pass according to the particular state's laws of intestate succession.
ESTATE TAXES
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... (more...)
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.
RESIDUARY BENEFICIARY
A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leav... (more...)
A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leaving his home to Edwina and the remainder of his property to Elmo, then Elmo is the residuary beneficiary.
SPECIAL ADMINISTRATOR
(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a spe... (more...)
(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a special administrator with particular expertise on art might be appointed to oversee the probate of a wealthy person's art collection, but not the entire estate. (2) A person appointed to be responsible for a deceased person's property for a limited time or during an emergency, such as a challenge to the will or to the qualifications of the named executor. In such cases, the special administrator's duty is to maintain and preserve the estate, not necessarily to take control of the probate process
SAMPLE LEGAL CASES
In re Estate of Feinberg
This case involves a dispute among the surviving children and grandchildren of Max and Erla
Feinberg regarding the validity of a trust provision. The circuit court of Cook County found the
trust provision unenforceable on the basis that it is contrary to the public policy of the state ...
In re Estate of Feinberg
In re ESTATE OF Max FEINBERG, Deceased (Leila R. Taylor, as Independent Coexecutor of
the Will of Max Feinberg, Deceased, Plaintiff-Appellant, v. Michael B. Feinberg, Individually and
as Coexecutor of the Will of Max Feinberg, Deceased; Fifth Third Bank, as Trustee under ...
In re Estate of Ellis
Grace Ellis executed a will in 1964 naming Shriners Hospitals for Children (Shriners) as beneficiary
of her estate if she died without direct descendants. In 1999, she executed a new will naming
James G. Bauman as sole beneficiary. Bauman was the pastor of the church of which ...
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