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Facts - Books - News    U.S. Facts Of Law:

Trusts And Estates

Laws governing the disposition and management of a person's estate and the use of trusts in estates fall under the broad category of trusts and estates.

An estate is the accumulation of tangible assets an individual has amassed minus all of the person's debts and liabilities.  Assets can include both real and personal property, cash, securities, life insurance policies, automobiles, assets in trusts, etc.  Generally, an estate will pass to a surviving spouse without probate.  Subsequently, the net assets of an estate will pass, upon death of the estate owner, to the heirs either through the instructions of a will or through a probate court under the laws of intestacy.  Property held in joint ownership with rights of survivorship will transfer immediately to the surviving joint owner.  Gift laws and taxes should be considered before changing ownership of any large asset.

Federal estate taxes currently only apply to estates in excess of two million dollars.  The tax is scheduled to be repealed for one year in 2010 and revert back to a one million dollar exemption in 2011.

Various types of trusts may be used by an estate to pass assets directly to a beneficiary to avoid probate or to defer or, in some cases, eliminate taxes.  By avoiding probate, the wishes of the deceased are less likely to be contested and thus altered and lengthy court battles and legal expenses are avoided.

Trusts can also be used to provide a fixed amount of funds to a beneficiary without giving them access to the entire trust until a certain age.  Large estate owners typically use this ability of a trust to pass larger amounts of assets to heirs without fearing the assets or funds will be quickly squandered or poorly invested.


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Trusts Amp Estates Holographic Will Legatee Or Creditor Judicial Estoppel ...
Trusts amp Estates Holographic Will Legatee or Creditor Judicial Estoppel North Carolina Lawyers Weekly Where the decedent39s holographic will directed the defendant executrices to pay the note BBampT that39s in my sister Peggy39s name, and where the executrices filed an affidavit with the clerk of court averring that the estate had no creditors, the

Selfhelp Legal Plan Could Jeopardize Estateaposs Administration Estates, Wil...
TCPalm Self help legal plan could jeopardize estate39s administration Estates, wills and trusts TCPalm STUART One of the main goals my clients have in regards to their estate planning is making sure their estate passes to their loved ones as seamlessly as possible. Having a well prepared estate plan specific to your needs can be the difference Final farewell needs to fare wellThe Register Guard all 5 news articles raquo

Len And Rosie: Avoid This Living Trust Problem Napa Valley Register
Napa Valley Register Len and Rosie: Avoid this living trust problem Napa Valley Register You need to consult with a trust and estates attorney to review your mother39s estate and figure out what you need to do to straighten this out. It is going to cost money, but it is the only way that you and your sisters are going to be able to

Attorney Ambrecht Attends Estate Counsel Meeting Noozhawk
Noozhawk Attorney Ambrecht Attends Estate Counsel Meeting Noozhawk Attorney John W. Ambrecht, an expert in estate planning and estate tax law, recently attended the annual meeting of the American College of Trust and Estate Counsel ACTEC, a nonprofit for the world39s top probate and estate planning attorneys. The and more raquo

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Facts of Law describing trusts and estates

Facts of Law - Trust and Estate