Wardville Estate Planning Lawyer, Oklahoma
Includes: Gift Taxation
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Gregory S. Taylor
Oil & Gas, Estate Planning, Corporate, Personal Injury
Status: In Good Standing *Status is reviewed annually. For latest information visit here
115 South Broadway, Ada, OK 74821
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LEGAL TERMS
DEVISEE
A person or entity who inherits real estate under the terms of a will.
GRANT DEED
A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as descri... (more...)
A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as described in the deed. This is the most commonly used type of deed. Compare quitclaim deed.
SURROGATE COURT
See probate court.
INTER VIVOS TRUST
The Latin name, favored by some lawyers, for a living trust. 'Inter vivos' is Latin for 'between the living.'
CERTIFICATION OF TRUST
See abstract of trust.
IRREVOCABLE TRUST
A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.
AUGMENTED ESTATE
In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used on... (more...)
In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used only in some states. Its value is calculated only if a surviving spouse declines whatever he or she was left by will and instead claims a share of the deceased spouse's estate. (This is called taking against the will.) The amount of this 'statutory share' or 'elective share' depends on state law.
ADMINISTRATOR
A person appointed by a probate court to handle the distribution of property of someone who has died without a will, or with a will that fails to name someone t... (more...)
A person appointed by a probate court to handle the distribution of property of someone who has died without a will, or with a will that fails to name someone to carry out this task. administrator ad litem A person appointed by a probate court to represent an estate during a lawsuit. (Ad litem is Latin for 'during the litigation.') An administrator ad litem is appointed only if there is no existing executor or administrator of the estate, or if the executor or administrator has conflicting interests. For example, Jerry's will leaves most of his property to his brother, Jeff, and also names Jeff as executor of the will. But Jerry's sister, Janine, feels that Jerry made the will under improper pressure from Jeff, and brings a lawsuit to challenge it. The court appoints an administrator ad litem to represent Jerry's estate while the lawsuit is in progress. Also known as administrator ad prosequendum, meaning administrator 'during the prosecution.' administrator ad prosequendum See administrator ad litem.administrator cum testamento annexo See administrator with will annexed. administrator de bonis non (DBN) Latin for 'administrator of goods not administered.' This term refers to the person appointed by a probate court to finish probate proceedings when the executor or previous administrator can't finish the job.administrator de bonis non cum testamento annexo (DBNCTA) A baffling title for an administrator appointed by a probate court to take over probate proceedings when the named executor dies, leaving the job unfinished.administrator pendente lite Latin for 'administrator pending litigation.' This term refers to the person appointed by a court to begin probate proceedings during a lawsuit that challenges the will. The administrator pendente lite takes an inventory of the deceased person's property and handles the business affairs of the estate until the dispute is settled. Also called a special administrator.administrator with will annexed An administrator who takes the place of an executor under a will. The administrator steps in either when a will fails to nominate an executor or the named executor is unable to serve. Also called administrator cum testamento annexo or CTA, the Latin version of 'with the will annexed.'
SECONDARY MEANING
In trademark law, a mark that is not inherently distinctive becomes protected after developing a 'secondary meaning': great public recognition through long use ... (more...)
In trademark law, a mark that is not inherently distinctive becomes protected after developing a 'secondary meaning': great public recognition through long use and exposure in the marketplace. For example, though first names are not generally considered inherently distinctive, Ben & Jerry's Ice Cream has become so well known that it is now entitled to maximum trademark protection.
SAMPLE LEGAL CASES
In re Marriage of Murphy
... Id. Joint revocable trusts are an alternative estate planning technique which have become
popular in common-law property states because they avoid probate and the need to sever
jointly owned assets into separate trusts for each spouse. Id. at 346-347. ...
Edwards v. Urice
... 22 The evidence in the record establishes the following facts. Urice was not related to Bowers
by blood and was not a natural object of her bounty. Prior to 1997, Bowers had never mentioned
Urice in her estate planning or wanted him to be involved in her financial affairs. ...
Friedman v. Craig
... The motion included affidavits to support Appellant's defense against a fraudulent conveyance,
ie, the transfer of the joint tenancy interest in Appellant's home to Craig in 2001 was an estate
planning device necessitated by her heart surgery and a concurrently-executed second ...
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