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Understanding Legal Terms, Part Four

Our probate lawyer in Cary NC is here with more terms that can help you better understand your lawyer. We know how difficult it might be to talk with your attorney when legal terms get confusing. Below, you'll find commonly used words and their definitions.

  • Guardian - An individual appointed by the court to make decisions on the behalf of a minor or incapacitated person.
  • Gross Estate - All property and assets of an individual that are subject to federal estate tax.
  • Grantor Trust - A trust in which a grantor has control over certain aspects of its income or assets in regard to federal and state income taxes.
  • Grantor - The person who creates or contributes property to a trust. There can be more than one grantor in a trust.  Also known as a “trustor” or “donor.”
  • Family Trust - A trust that benefits the remaining spouse, children or other family members of the deceased.
  • Executor - The person named in a will or appointed by the court that oversees the decedent’s estate.
  • Estate Tax - Taxes imposed on an estate when it is transferred.
  • Estate Planning - The process of creating documents that outline how one’s assets will be handled after his or her incapacity or death.
  • Durable Power of Attorney - A person named to execute the estate of the person who is deceased or incapacitated that does not terminate.

Our probate lawyer in Cary NC understands that this process can be quite confusing. That's why we are here to help in any way we can. Contact us to set up a consultation to talk about your current estate plan. Also, stay tuned for more terms to know.

Eldreth Law Firm, PLLC | Probate Lawyer in Cary NC

If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our probate lawyer in Cary NC is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our office today to get started estate planning.
As always, feel free to contact us at our office to schedule a consultation with if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and  DWI issues.

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