Muskegon Estate Planning Lawyer, Michigan, page 5


Includes: Gift Taxation

Alan Michael Abrams

Real Estate, Estate Planning, Family Law, Elder Law
Status:  In Good Standing           Licensed:  58 Years

James M. Rose

Real Estate, Estate Planning, Family Law, Car Accident
Status:  In Good Standing           Licensed:  45 Years

Larry A. Lemmen

Real Estate, Estate Planning, Estate, Elder Law
Status:  In Good Standing           Licensed:  49 Years

Robert A. Stariha

Other, Estate Planning, Consumer Bankruptcy, Medical Malpractice
Status:  In Good Standing           Licensed:  43 Years
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Keith J. Schuiteman

Real Estate, Estate Planning, Elder Law, Limited Liability Companies
Status:  In Good Standing           Licensed:  45 Years

David C. Jaunese

Real Estate, Estate Planning, Estate, Criminal
Status:  In Good Standing           Licensed:  47 Years

Theodore A. Caris

Real Estate, Estate Planning, Estate, Business & Trade
Status:  In Good Standing           Licensed:  52 Years

Catherine Jones-Rikkers

Estate Planning, Labor Law, Employment, Consumer Bankruptcy
Status:  In Good Standing           Licensed:  32 Years

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

Member Representative

Call me for fastest results!
800-943-8690

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

By submitting this lawyer request, I confirm I have read and agree to the Consent to Receive Email, Phone, Text Messages, Terms of Use, and Privacy Policy. Information provided is not privileged or confidential.

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LEGAL TERMS

INTESTATE SUCCESSION

The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest s... (more...)
The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest surviving relatives. In most states, the surviving spouse, children, parents, siblings, nieces and nephews, and next of kin inherit, in that order.

PETITION

A formal written request made to a court, asking for an order or ruling on a particular matter. For example, if you want to be appointed conservator for an elde... (more...)
A formal written request made to a court, asking for an order or ruling on a particular matter. For example, if you want to be appointed conservator for an elderly relative, you must file a petition with a court. See also complaint.

GRANTOR

Someone who creates a trust. Also called a trustor or settlor.

ENTITY

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from i... (more...)
An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, estate or government agency. The entity is treated like a person; it can function legally, be sued, and make decisions through agents.

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.

QTIP TRUST

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the... (more...)
A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

A federal law passed to protect pension rights. ERISA: sets minimum standards for pension plans, guaranteeing that pension rights cannot be unfairly denied to o... (more...)
A federal law passed to protect pension rights. ERISA: sets minimum standards for pension plans, guaranteeing that pension rights cannot be unfairly denied to or taken from a worker provides some protection for workers in the event certain types of pension plans cannot pay the benefits to which workers are entitled, and requires that employers provide full and clear information about employees' pension rights, including the way pension benefits accumulate, how the company invests pension funds, and when and how pension benefits can be collected.

UNIFORM TRANSFER-ON-DEATH SECURITY ACT

A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using... (more...)
A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using a simple form that names a person to receive the property after the owner's death. Every state but Texas has adopted the statute.

GROSS ESTATE

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)
For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.

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 ...