Prescott Estate Lawyer, Arizona, page 3

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Albert Edward Iverson

Trusts, Estate
Status:  Inactive *Status is reviewed annually. For latest information visit here           Licensed:  34 Years

David K Wilhelmsen

Commercial Real Estate, Litigation, Wills, Trusts, Real Estate
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  44 Years

Jack H Fields

State Government, Trusts, Estate, Criminal, Elder Law
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  38 Years

Patricia R Powers

Elder Law, Trusts
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  40 Years

Lynn M Harris

Juvenile Law, Trusts, Divorce & Family Law, Business, Business & Trade
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  28 Years

Thomas P Kack

Leisure, Estate Planning, Corporate, Bankruptcy
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  44 Years

Raymond W Brown

Trusts, Mental Health
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  58 Years

Mark V. Scheehle

Trusts, Gift Taxation, Business & Trade, Business
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  44 Years

John M Favour

Commercial Real Estate, Federal Trial Practice, Trusts
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  76 Years

Jay R Eaton

Tax, Corporate, Gift Taxation, Trusts
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  34 Years

Free Help: Use This Form or Call 800-814-6700

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LEGAL TERMS

INVENTORY

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or admini... (more...)
A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or administrator of the estate is responsible for making and filing the inventory.

ABATEMENT

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other exp... (more...)
A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other expenses. Gifts left in the will are cut back in order to pay taxes, satisfy debts or take care of other gifts that are given priority under law or by the will itself.

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.

ESTATE PLANNING

The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your... (more...)
The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your estate may involve making a will, living trust, healthcare directives, durable power of attorney for finances or other documents.

RULE AGAINST PERPETUITIES

An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For examp... (more...)
An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For example, a person would not be allowed to leave property to her husband for his life, then to her children for their lives, then to her grandchildren. The gift would potentially go to the grandchildren at a point too remote in time.

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.

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

LAPSE

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. S... (more...)
Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. Some states have anti-lapse statutes, which prevent gifts to relatives of the deceased person from lapsing unless the relative has no heirs of his or her own. A lapsed gift becomes part of the residuary estate.

DEATH TAXES

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who... (more...)
Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who inherit property.

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