Bagdad Estate Planning Lawyer, Kentucky

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William Bornstein
About | Practice Areas
Bornstein & Oppenheimer
3339 Taylorsville Rd Louisville, KY 40205» view map
Real Estate
Where Every Client Matters

When you need accurate representation for your Real Estate transaction, William Bornstein is there for you.

800-925-4171
1. William Bornstein Louisville, KY
  Attorney at Law - KY, 1966
  University of Louisville J.D. 1966
2. AboutBornstein & Oppenheimer
  Bornstein Oppenheimer, PLLC, is a diversified law firm headquartered in Louisville, Kentucky.
3. Practice AreasExpertise
  Real Estate
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Includes: Gift Taxation

T. Sherman Riggs

Business Organization, Banking & Finance, Wills & Probate, Estate Planning

Status: In Good Standing

FREE CONSULTATION

CONTACT

500 Main Street, Shelbyville, KY 40065

Barry W Norfleet

Trusts, Gift Taxation, Corporate, Business

Status: In Good Standing

CONTACT

125 W. Main Street, Frankfort, KY 40601

Michele M Whittington

International, Energy, Gift Taxation, Environmental Law

Status: In Good Standing

CONTACT

421 W Main St, Frankfort, KY 40602

Roger Benjamin Crittenden

Military & Veterans Appeals, Mediation, Gift Taxation, Administrative Law

Status: In Good Standing

CONTACT

421 W Main St, Frankfort, KY 40602

William L Legg

Trusts, Gift Taxation

Status: In Good Standing

CONTACT

Frankfort, KY 40602

800-923-0641

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800-943-8690

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LEGAL TERMS

ADEMPTION

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she di... (more...)

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she dies. Often this happens because the property has been sold, destroyed or given away to someone other than the beneficiary named in the will. A bequest may also be adeemed when the will maker, while still living, gives the property to the intended beneficiary (called 'ademption by satisfaction'). When a bequest is adeemed, the beneficiary named in the will is out of luck; he or she doesn't get cash or a different item of property to replace the one that was described in the will. For example, Mark writes in his will, 'I leave to Rob the family vehicle,' but then trades in his car in for a jet ski. When Mark dies, Rob will receive nothing. Frustrated beneficiaries may challenge an ademption in court, especially if the property was not clearly identified in the first place.

HOLOGRAPHIC WILL

A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many stat... (more...)

A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many states, making a holographic will is never advised except as a last resort.

IN TERROREM

Latin meaning 'in fear.' This phrase is used to describe provisions in contracts or wills meant to scare a person into complying with the terms of the agreement... (more...)

Latin meaning 'in fear.' This phrase is used to describe provisions in contracts or wills meant to scare a person into complying with the terms of the agreement. For example, a will might state that an heir will forfeit her inheritance if she challenges the validity of the will. Of course, if the will is challenged and found to be invalid, then the clause itself is also invalid and the heir takes whatever she would have inherited if there were no will.

PROPERTY CONTROL TRUST

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who ha... (more...)

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who have special physical, emotional or other requirements, (2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and (3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.

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.

TRUSTEE POWERS

The provisions in a trust document defining what the trustee may and may not do.

NET ESTATE

The value of all property owned at death less liabilities or debts.

RESIDUARY ESTATE

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court c... (more...)

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court costs are paid. The residuary estate also includes any gifts under a will that fail or lapse. For example, Connie's will leaves her house and all its furnishings to Andrew, her VW bug to her friend Carl, and the remainder of her property (the residuary estate) to her sister Sara. She doesn't name any alternate beneficiaries. Carl dies before Connie. The VW bug becomes part of the residuary estate and passes to Sara, along with all of Connie's property other than the house and furnishings. Also called the residual estate or residue.

QDOT TRUST

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spo... (more...)

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spouse. QDOT stands for qualified domestic trust.

SAMPLE LEGAL CASES

Easterly v. METROPOLITAN LIFE INSURANCE COMPANY

... [6]. In January or February of 1990, Easterly met with an estate planning attorney in Florida and discovered the face value of the policy to be $185,000.00, not the $235,000.00 they believed they had contracted to purchase in 1989. ...

GRIPSHOVER v. GRIPSHOVER

... prepare documents effectuating a real estate partnership (the Gripshover Family Limited Partnership #1) and a partnership for the ownership and management of the family farming business (the Gripshover Family Limited Partnership #2). For estate planning and taxation ...

Fleming v. Toney

... A decree was never entered, but Leon and Janet remained separated until Leon's death on August 24, 2006. Following the separation, and prior to his death, Leon made several estate planning decisions without Janet's knowledge. ...

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Bagdad Estate Planning Lawyer, Kentucky

Sponsored Law Firm

Bornstein & Oppenheimer

SPONSORED LAWYERS

T. Sherman Riggs

Barry W Norfleet

Michele M Whittington

Roger Benjamin Crittenden

William L Legg

TIPS

LEGAL TERMS

ADEMPTION

HOLOGRAPHIC WILL

IN TERROREM

PROPERTY CONTROL TRUST

SPENDTHRIFT TRUST

TRUSTEE POWERS

NET ESTATE

RESIDUARY ESTATE

QDOT TRUST

SAMPLE LEGAL CASES

Easterly v. METROPOLITAN LIFE INSURANCE COMPANY

GRIPSHOVER v. GRIPSHOVER

Fleming v. Toney

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