Glendale Estate Planning Lawyer, California, page 4

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Includes: Gift Taxation

John Jocko Jacobson

White Collar Crime, Estate Planning, Workers' Compensation, International Tax, Insurance
Status:  In Good Standing           Licensed:  43 Years

Eric Andrew Ashton

Trusts, Estate Planning, Estate, Business
Status:  In Good Standing           

Eric Arthur Ashton

Trusts, Estate Planning, Estate, Business
Status:  In Good Standing           

Dennis Huang

Estate Planning, Trusts, Business Organization, Wills & Probate
Status:  In Good Standing           Licensed:  20 Years

James G. Morris

Estate Planning, Family Law, Contract, Business Organization
Status:  In Good Standing           Licensed:  41 Years

Patrick Blanchard Crawford

Gift Taxation
Status:  Suspended           

Isai Bismark Cortez

International Tax, International, Gift Taxation, Credit & Debt
Status:  In Good Standing           

Karla C. Berentsen

Trusts, Estate Planning
Status:  In Good Standing           Licensed:  21 Years

Norman Harry Green

Tax, Trusts, Gift Taxation, Business Organization
Status:  In Good Standing           

Karl I. Swaidan

Tax, Wills & Probate, Estate Planning, Business Organization
Status:  In Good Standing           Licensed:  41 Years

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LEGAL TERMS

GENERATION-SKIPPING TRUST

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income fro... (more...)
A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income from the trust. Because the children (the middle generation) never legally own the property, it isn't subject to estate tax at their death. See generation-skipping transfer tax.

INHERIT

To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will... (more...)
To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will. Currently, however, the word is used whenever someone receives property from the estate of a deceased person.

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.

UNIFORM TRANSFER-ON-DEATH SECURITY ACT

A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using... (more...)
A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using a simple form that names a person to receive the property after the owner's death. Every state but Texas has adopted the statute.

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.

PREDECEASED SPOUSE

In the law of wills, a spouse who dies before the will maker while still married to him or her.

INVESTOR

A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes invest... (more...)
A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes investments for others who have entrusted her with their money.

DEVISEE

A person or entity who inherits real estate under the terms of a will.

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.

SAMPLE LEGAL CASES

Murphy v. Murphy

... The probate court has discretion, circumscribed by the statutory scheme, to order a "substituted judgment" that authorizes a conservator on behalf of a conservatee to take necessary or desirable action to facilitate estate planning, when a reasonably prudent person in the ...

In re Estate of Young

... her lawyer at the time, Dennis Burns. Mr. Burns represented her for 15 years for estate planning purposes and a bankruptcy of one of Young's businesses, Green Thumb Nursery. In the 1991 estate plan, Charles was expressly ...

Chang v. Lederman

... 2. The Law Regarding Liability for Negligence in Estate Planning to Intended or Potential Beneficiaries. ... Nevertheless, the attorney prepared new estate planning documents that fundamentally changed the plan and made a substantial gift to Michael. ...

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