Coleman County, TX Estate Lawyers
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Ross L. Jones
Commercial Real Estate, Oil & Gas, Industry Specialties, Wills
Status: In Good Standing *Status is reviewed annually. For latest information visit here Licensed: 64 Years
Coleman, TX 76834
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LEGAL TERMS
PER CAPITA
Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leavin... (more...)
Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leaving 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 capita, Julie and the two grandchildren will each take a third. If, on the other hand, 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).
PER STIRPES
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. F... (more...)
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.
TRUST MERGER
Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)
Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.
PERSONAL PROPERTY
All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, p... (more...)
All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, patents, pets and season baseball tickets are all examples of personal property. Personal property may also be called personal effects, movable property, goods and chattel, and personalty. Compare real estate.
EXECUTOR
The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's... (more...)
The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.
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.
FUNDING A TRUST
Transferring ownership of property to a trust.
BENEFICIARY
A person or organization legally entitled to receive benefits through a legal device, such as a will, trust or life insurance policy.
WARRANTY DEED
A seldom-used type of deed that contains express assurances about the legal validity of the title being transferred.
SAMPLE LEGAL CASES
In re Estate of Tyner
Lacey Westbrook appeals from an adverse summary judgment rendered in the declaratory judgment
action she initiated to have JW Tyner's will construed. Westbrook contends the trial court erroneously
determined that she is not a beneficiary under the will, set the wrong postjudgment ...
In re Estate of Rhea
In October 2005, Charlotte and Trenton notified Charles of their intent to remove Wanda's personal
property from the marital home. Charles labeled some of the possessions in the home to mark
his own separate property, then left the house from November 11 through November 14. ...
In re Estate of Gaines
In eight issues, appellants argue (1) the trial court improperly disqualified Davis from serving
as the independent executor because no motion to disqualify or opposition was filed, (2) the
trial court erred in requiring Davis to turn over funds, (3) the trial court erred in denying ...
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