Royal Oak Estate Planning Lawyer, Michigan, page 5

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Includes: Gift Taxation

Karen L Hahn

Real Estate, Estate Planning, Family Law, Personal Injury
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  46 Years

Timothy D. Batdorf

Estate Planning, Estate, Elder Law, Civil & Human Rights
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  31 Years

Caryl D. Wooten

Landlord-Tenant, Estate Planning, Estate, Employment Contracts
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  19 Years

Rachel Marie Pinch

Other, Social Security, Government, Estate Planning
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  10 Years

Jason B. Wagner

Other, Estate Planning, Estate, Employee Rights, Business
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  25 Years

Pamela M. Kroll

Medicare & Medicaid, Social Security, Estate Planning, Elder Law
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  13 Years

George H. Runstadler

International Tax, Gift Taxation, Estate Planning, Merger & Acquisition
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

Edward F. Hudson

Residential Real Estate, Commercial Real Estate, Estate Planning, Estate
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  23 Years

W. Jerry Byrd

Estate Planning, Estate, Business
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

Fatima Mansour

Antitrust, Estate Planning, Consumer Bankruptcy, Administrative Law
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

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

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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.

DISTRIBUTEE

(1) Anyone who receives something. Usually, the term refers to someone who inherits a deceased person's property. If the deceased person dies without a will (ca... (more...)
(1) Anyone who receives something. Usually, the term refers to someone who inherits a deceased person's property. If the deceased person dies without a will (called intestate), state law determines what each distributee will receive. Also called a beneficiary.

INTER VIVOS TRUST

The Latin name, favored by some lawyers, for a living trust. 'Inter vivos' is Latin for 'between the living.'

INHERITANCE TAXES

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited prop... (more...)
Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited property.

WILL

A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for you... (more...)
A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for your young children.

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.

INTESTATE

The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)
A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

QDOT TRUST

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spo... (more...)
A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spouse. QDOT stands for qualified domestic trust.

SAMPLE LEGAL CASES

IN RE ESTATE OF SOUTHWORTH

... Margaret Noe. In February 2005, the decedent consulted Noe for estate planning advice. The ... estate plan. The representative offered to meet with the decedent and answer any questions regarding estate planning and the college. Despite ...

IN RE HAYES

... In addition, the survivor may amend or revoke the trust." [Brief at 8, citing Michigan Estate Planning Handbook (Carol J. Karr ed., ICLE 2d ed, 2006), ch 22, § 22.4.]. ... [Michigan Estate Planning Handbook (Carol J. Karr ed., ICLE 2d ed, 2006), ch 22, § 22.4.]. ...

Charfoos v. Schultz

... including trust documents, as in this case. Bullis v Downes, 240 Mich App 462, 468; 612 NW2d 435 (2000) (no distinction made among varieties of modern estate planning tools). Here, the trial court prohibited plaintiffs from ...

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