Fayetteville Wills & Probate Lawyer, Arkansas, page 2


Includes: Estate Administration, Living Wills, Wills

Eric Backstrom

Customs, Wills
Status:  In Good Standing           

John Andrew Jones

Wills, Gift Taxation, Business & Trade, Business
Status:  In Good Standing           Licensed:  50 Years

Lonnie Jacobs Copps

General Practice
Status:  In Good Standing           Licensed:  34 Years

Lonnie J. Copps

General Practice
Status:  In Good Standing           Licensed:  34 Years
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Tina Marie Hodne

Real Estate, Corporate, Trusts, Wills & Probate
Status:  In Good Standing           Licensed:  18 Years

Dana Davis Paul

Construction, Wills & Probate, Securities, Banking & Finance
Status:  In Good Standing           

Christopher Shane Woodard

Wills, Criminal, Business & Trade, Personal Injury
Status:  In Good Standing           Licensed:  9 Years

Christopher Shane Woodard

Wills, Criminal, Business & Trade, Personal Injury
Status:  In Good Standing           Licensed:  9 Years

Jay Barton Williams

General Practice
Status:  In Good Standing           Licensed:  31 Years

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Free Help: Use This Form or Call 800-943-8690

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LEGAL TERMS

FAMILY POT TRUST

See pot trust.

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.

ESTATE TAXES

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and... (more...)
Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and whether or not it goes through probate after your death, is subject to federal estate tax. Currently, however, federal estate tax is due only if your property is worth at least $2 million when you die. The estate tax is scheduled to be repealed for one year, in 2010, but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.

DISCHARGE (OF PROBATE ADMINISTRATOR)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties hav... (more...)
A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties have been completed but may happen sooner if the executor or administrator wishes to withdraw or is dismissed.

ADMINISTRATION (OF AN ESTATE)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. I... (more...)
The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. If not, the court appoints someone, who is generally known as the administrator. In some states, the person is called the 'personal representative' in either instance.

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.

ACCUMULATION TRUST

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nic... (more...)
A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.

DOWER AND CURTESY

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') ... (more...)
A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') refers to the portion to which a surviving wife is entitled, while curtesy refers to what a man may claim. Until recently, these amounts differed in a number of states. However, because discrimination on the basis of sex is now illegal in most cases, most states have abolished dower and curtesy and generally provide the same benefits regardless of sex -- and this amount is often known simply as the statutory share. Under certain circumstances, a living spouse may not be able to sell or convey property that is subject to the other spouse's dower and curtesy or statutory share rights.

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

Edwards v. Nelson

... Kenneth Edwards, Sr. died after a lengthy hospitalization at Mercy on April 4, 2003. On November 10, 2003, Kenneth Edwards, Jr. ("Edwards") was appointed as the administrator of his father's estate in Sebastian County Circuit Court, Probate Division, case number PR-2003 ...

Carmody v. Raymond James Financial Services, Inc.

... Appellants, Thomas G. Carmody and Dr. Norman C. Savers, Jr., as co-administrators on behalf of the Estate of Helen Virginia Coan, deceased, and on behalf of the heirs of Helen Virginia Coan, appeal the probate order compelling arbitration issued by the Ouachita County ...

Osborn v. Bryant

... 28-41-101 (Repl. 2004 & Supp.2007), and attached her father's will to the affidavit. The same day she filed the affidavit, Brenda also filed a "Notice of Probate." Proof of publication of the notice was subsequently filed on October 14, 1994. ...