West Union Estate Lawyer, Ohio

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John Richard Stevenson

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LEGAL TERMS

ADMINISTRATRIX

An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male... (more...)
An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male or female, this person is called the administrator.

CREDIT SHELTER TRUST

See AB trust.

BYPASS TRUST

A trust designed to lessen a family's overall estate tax liability. An AB trust is the most popular kind of bypass trust.

CERTIFICATION OF TRUST

See abstract of trust.

EXECUTOR

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's... (more...)
The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.

INVESTOR

A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes invest... (more...)
A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes investments for others who have entrusted her with their money.

DISINHERIT

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit prope... (more...)
To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit property -- a close family member, for example -- should not receive it. In most states, you cannot completely disinherit your spouse; a surviving spouse has the right to claim a portion (usually one-third to one-half) of the deceased spouse's estate. With a few exceptions, however, you can expressly disinherit children.

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.

FINAL BENEFICIARY

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jan... (more...)
The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jane receives income for the duration of her life. Their daughter, the final beneficiary, receives the trust principal after Jane's death.

SAMPLE LEGAL CASES

Estate of Beavers v. Knapp

{¶ 2} This action arises out of an October 9, 2001 motorcycle-truck collision that resulted in the death of Robert L. Beavers Jr. Knapp, who was newly 765 employed as a truck driver by Rush, was traveling from the Rush facility in Dayton, Ohio to Columbus, where he was ...

Estate of Stevic v. Bio-Medical Application of Ohio, Inc.

{¶ 3} In October 2003, Donald Stevic went to the Richland County Kidney Dialysis Center for dialysis treatment. Appellant, Bio-Medical Application of Ohio, Inc., dba FMC Dialysis Services of Richland County ("Bio-Medical"), owns and operates the Richland County Kidney ...

Estate of Graves v. Circleville

{¶ 1} This appeal involves the availability of the public-duty rule as a defense to liability of employees of a political subdivision. Appellants, Circleville Police Department Officers Peter Shaw, William Eversole, and Ben Carpenter [1] ("the officers"), assert that the public-duty rule governs ...

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