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73 search results for: legal word trust

21

Legal Word of the Day (Brought to you by Sam Nunberg): Subpoena

The language in which much of the law is written and conducted in can be downright confusing…it’s not called legalese for nothing! Even basic words, like property and trust, can take on varied and more specific meanings than their normal everyday meanings. But other words and phrases are a part of most adult Iowan’s peripheral […]

22

Trust Beneficiary: Break it Down

What’s It All For? In Hamilton: An American Musical, a perplexed Alexander Hamilton asks Aaron Burr, “What was it all for?” Regarding trusts, we know that all the work is for the beneficiary. Classic Definition of “Trust” and “Beneficiary” A trust is created when a property owner transfers property to a person with the intent […]

23

When is a Trust Not a Trust?

Similar to the bad joke, “When is a door not a door? When it’s a jar!” Ha! Similarly, but not as punny, we might well say, “When is a trust not a trust? When it’s a Totten trust!” A Totten trust, also known as a savings account trust or a poor man’s will, is not […]

24

Make a Nonprofit Merger Happen

At times nonprofits that share highly similar missions, goals, and the like can be consolidated to maximize impact. So, in Iowa, what’s the process of a legal merger between two nonprofits? Definition of Terms: What’s a Merger Like many legal terms, the word “merger” is capable of multiple definitions. A merger can mean an asset […]

25

You Are A Superhero: Charitable Giving Through Estate Planning. (Everything* You Need to Know About Estate Planning: Day 7)

You are a superhero. Seriously, you have the ability to change the world or, at the very least, your little corner of it. In fact, changing the world can be as simple as asking yourself one question: what causes would I like to benefit in my will? BEQUESTS TO CHARITIES IN YOUR WILL You can include […]

26

Why Every Iowan Should Have Financial Power of Attorney (Everything* You Need to Know About Estate Planning: Day 4)

What IS a Financial power of attorney, anyway? You’ve probably heard you need to have a financial power of attorney in place, but the whole thing seems a little ambiguous . . . what does this important legal document (which is a necessary part of a complete estate plan) actually mean? Let’s cover the basics. SIX “MUST HAVE” […]

27

What Every Iowan Should Know About Health Care Power of Attorney (Everything* You Need to Know About Estate Planning: Day 3)

SIX “MUST HAVE” DOCUMENTS OF YOUR ESTATE PLAN As discussed in this previous blog post overview, there are six documents that should be part of most everyone’s estate plan: Estate planning questionnaire Will Power of attorney for health care Power of attorney for financial matters Disposition of personal property Disposition of final remains Last blog […]