Point Lookout Trusts Lawyer, Missouri

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Zach Hunsinger
About | Practice Areas
Hunsinger, Boyd Odom, & Goss, LLP
19624 Governors Hwy. Ste. 1 Flossmoor, IL 60422» view map
Divorce & Family Law
Where Compassion Meets Action

Family issues can be stressful. Turn to Hunsinger, Boyd Odom, & Goss Law Group, LLP to get objective legal counsel for your situation.

800-905-9470
1. Zach Hunsinger Flossmoor, IL
  Attorney at Law- IL, 2013
  Loyola University Chicago School of Law, J.D. 2013
2. AboutHunsinger, Boyd Odom, & Goss Law Group, LLP
  Where Compassion Meets Action
3. Practice AreasExpertise
  Divorce & Family Law
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J. Richard Owensby

Corporate, Trusts, Wills

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1949 East Sunshine St. Ste 1-130, Springfield, MO 65804

Richard Parks

Commercial Real Estate, Trusts, Estate, Elder Law

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1354 E Kingsley St., Springfield, MO 65804

Cameron Jones

Commercial Real Estate, Trusts, Estate, Elder Law

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1354 E Kingsley St, Springfield, MO 65804

Donald R. Duncan

Insurance, Construction, Trusts, Medical Malpractice

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1355 East Bradford Parkway, Springfield, MO 65808

B.J. Richardson

Commercial Real Estate, International Tax, Trusts, Limited Liability Companies

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3010 E. Battlefield, Springfield, MO 65804

800-814-6700

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LEGAL TERMS

RESIDUARY ESTATE

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 c... (more...)

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.

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.

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.

IRREVOCABLE TRUST

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

LIVING TRUST

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the t... (more...)

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the trust during your life passes directly to the trust beneficiaries after you die, without court involvement. The successor trustee--the person you appoint to handle the trust after your death--simply transfers ownership to the beneficiaries you named in the trust. Living trusts are also called 'inter vivos trusts.'

WARRANTY DEED

A seldom-used type of deed that contains express assurances about the legal validity of the title being transferred.

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).

GRANTOR RETAINED INCOME TRUST

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for ... (more...)

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years. When the trust ends, the property goes to the final beneficiaries you've named. These trusts are for people who have enough wealth to feel comfortable giving away a substantial hunk of property. They come in three flavors: Grantor-Retained Annuity Trusts (GRATs), Grantor-Retained Unitrusts (GRUTs) and Grantor-Retained Income Trusts (GRITs).

EXEMPTION TRUST

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth m... (more...)

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest is shielded from tax under the surviving spouse's marital deduction.

SAMPLE LEGAL CASES

Wilson v. Rhodes

... 875 JEFFREY W. BATES, Chief Judge. The trial court granted a summary judgment requiring the successor trustees of two trusts to distribute certain assets to the personal representative of a decedent's estate. ... In September 1992, Husband and Wife established individual trusts. ...

Hardt v. Vitae Foundation, Inc.

... This rule applied to gifts both to charitable trusts and charitable corporations and was made primarily to prevent potential beneficiaries without a "special interest" in the gift from "vex[ing]" public charities with "frequent suits, possibly based on an inadequate investigation." Id. ...

Schumacher v. Schumacher

... Upon Grantor's death in May of 1998, the revocable trust split into three separate trusts: a qualified terminable interest property trust ("QTIP trust"), a marital trust, and a family trust. Topper is the sole trustee of the three trusts. ...

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Point Lookout Trusts Lawyer, Missouri

Sponsored Law Firm

Hunsinger, Boyd Odom, & Goss, LLP

SPONSORED LAWYERS

J. Richard Owensby

Richard Parks

Cameron Jones

Donald R. Duncan

B.J. Richardson

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LEGAL TERMS

RESIDUARY ESTATE

INTESTATE SUCCESSION

NONPROBATE

IRREVOCABLE TRUST

LIVING TRUST

WARRANTY DEED

PER CAPITA

GRANTOR RETAINED INCOME TRUST

EXEMPTION TRUST

SAMPLE LEGAL CASES

Wilson v. Rhodes

Hardt v. Vitae Foundation, Inc.

Schumacher v. Schumacher

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