Smyth County, VA Wills & Probate Lawyers, page 2

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LEGAL TERMS

SELF-PROVING WILL

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-prov... (more...)
A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-proving when two witnesses sign under penalty of perjury that they observed the willmaker sign it and that he told them it was his will. If no one contests the validity of the will, the probate court will accept the will without hearing the testimony of the witnesses or other evidence. To make a self-proving will in other states, the willmaker and one or more witnesses must sign an affidavit (sworn statement) before a notary public certifying that the will is genuine and that all willmaking formalities have been observed.

POUR-OVER WILL

A will that 'pours over' property into a trust when the will maker dies. Property left through the will must go through probate before it goes into the trust.

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 DEED

The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to... (more...)
The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to a trustee -- often a title company -- who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.

TRUSTEE POWERS

The provisions in a trust document defining what the trustee may and may not do.

LIFE BENEFICIARY

A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.

TESTAMENTARY TRUST

A trust created by a will, effective only upon the death of the willmaker.

SWEARING MATCH

A case that turns on the word of one witness versus another. The outcome of a swearing match usually depends on whom the jury finds most trustworthy.

NET ESTATE

The value of all property owned at death less liabilities or debts.

SAMPLE LEGAL CASES

Matthews v. Matthews

... Present: All the Justices. OPINION BY Justice S. BERNARD GOODWYN. In this case, we consider whether the circuit court erred in failing to dismiss a probate appeal when the party appealing the probate order of the clerk had also submitted a different will for probate. ...

Schilling v. Schilling

... In this appeal, we consider whether Code § 64.1-49.1, effective on July 1, 2007, applies to a writing made in 2005 but not offered for probate as a holographic will until after the maker's death in September 2008. I. BACKGROUND AND MATERIAL PROCEEDINGS BELOW. ...

Keener v. Keener

... The purpose of this Trust is to reduce or eliminate probate costs to the extent possible while maintaining complete control of my assets. ... Debra went to the clerk's office of the Circuit Court of Prince William County to ascertain whether her father's will had been offered for probate. ...

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