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Broadalbin Estate Planning Lawyer, New York

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Includes: Gift Taxation

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1-4 of 4 matches. Page 1 of 1  

Timothy F Wilkens

Real Estate, Estate Planning, Environmental Law, Family Law
Status:  In Good Standing           

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215 State Street, Schenectady, NY 12301
Profile LAWPOINTS™34/100
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Ann M. Sharpe

Health Care Other, Estate Planning, Elder Law, Corporate
Status:  In Good Standing           
CONTACT
990 State Route 67, Ballston Lake, NY 12020
Profile LAWPOINTS™34/100
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Walter Murdock Stroup

Litigation, Commercial Real Estate, Estate Planning, Federal Trial Practice
Status:  Inactive           Licensed:  66 Years
CONTACT
494 Broadway, Saratoga Springs, NY 12866
Profile LAWPOINTS™19/100
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Mark Douglas Witecki

International, Trusts, Gift Taxation, Criminal
Status:  In Good Standing           Licensed:  13 Years
CONTACT
1555 Regal Ave, Schenectady, NY 12309
Profile LAWPOINTS™26/100
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Easily find Broadalbin Estate Planning Lawyers and Broadalbin Estate Planning Law Firms. For more attorneys, search all Estate areas including Trusts, Wills & Probate and Power of Attorney attorneys.

LEGAL TERMS

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.

BYPASS TRUST

A trust designed to lessen a family's overall estate tax liability. An AB trust is the most popular kind of bypass trust.

INTER VIVOS TRUST

The Latin name, favored by some lawyers, for a living trust. 'Inter vivos' is Latin for 'between the living.'

LIFE BENEFICIARY

A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.

FAILURE OF ISSUE

A situation in which a person dies without children who could have inherited her property.

SURVIVING SPOUSE'S TRUST

If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.

INTESTATE

The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.

KINDRED

Under some state's probate codes, all relatives of a deceased person.

TRUST DEED

The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to... (more...)
The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to a trustee -- often a title company -- who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.

SAMPLE LEGAL CASES

Schneider v. Finmann

... maintain an action for legal malpractice. We now reverse and reinstate plaintiff's claim. Strict privity, as applied in the context of estate planning malpractice actions, is a minority rule in the United States. [1] In New York, a third ...

Fielding v. Kupferman

... The documents at issue in Bishop were estate planning instruments executed by the plaintiff who believed that he was giving his wife a life estate and was not limiting his access to his life savings (Bishop, 33 AD3d 497, 501 [2006], affd 9 NY3d 910 [2007]). ...

Kram Knarf, LLC v. Djonovic

... The client's malpractice complaint was silent as to how the attorneys misled him, what they failed to explain to him concerning the estate planning documents he executed, and which of his instructions those documents did not reflect (33 AD3d at 498-499). ...

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