Smallwood Estate Planning Lawyer, New York

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Robert Klipstein
About | Practice Areas
Ballon Stoll PC
810 7th Ave Suite 405 New York, NY 10019» view map
Immigration Law
Counselors At Law

Founded in 1931 and built upon a tradition of excellence, Ballon Stoll P.C. is a mid-sized full-service law firm catering to the needs of businesses and individuals alike.

212.575.7900
1. Robert Klipstein New York, NY
  Attorney at Law, NY
  Columbia University Law School, J.D. 1960
2. AboutBallon Stoll PC
  Counselors At Law
3. Practice AreasExpertise
  Immigration
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Includes: Gift Taxation

Suzan Dann Paras

Wills & Probate, Estate Planning, Legal Malpractice, Animal Bite

Status: In Good Standing

FREE CONSULTATION

CONTACT

1 Dolson Ave., Middletown, NY 10940

Arthur Shapiro

Real Estate, Estate Planning, Family Law, Criminal

Status: In Good Standing

CONTACT

10 Matthews Street, Goshen, NY 10924

Richard B Golden

Construction, Estate Planning, Corporate, Contract

Status: In Good Standing

CONTACT

40 Matthews St., Goshen, NY 10924

Jason Rosenwasser

Estate Planning, Family Law, Litigation, Car Accident

Status: In Good Standing

CONTACT

201 Ward Street, Montgomery, NY 12549

Marcia A. Jacobowitz

Agriculture, Estate Planning, Corporate, Business Organization

Status: In Good Standing

CONTACT

158 Orange Avenue, Walden, NY 12586

Theodore Richard Rogowski

Status: In Good Standing Licensed: 67 Years

CONTACT

1924 Beaverkill Rd, Livingston Manor, NY 12758

Erno C. Poll

Wills, Estate Planning, Family Law, Divorce

Status: In Good Standing Licensed: 39 Years

CONTACT

726 E Main St, Middletown, NY 10940

Scott R. Goldstein

Social Security -- Disability, Estate Planning, Workers' Compensation, Employment

Status: In Good Standing Licensed: 30 Years

CONTACT

100 Crystal Run Rd, Middletown, NY 10941

Charles A Judelson

Corporate, Business Organization, Elder Law, Estate Planning

Status: In Good Standing

CONTACT

10 Matthews St, Goshen, NY 10924

Sarah Jane Fetherston

Elder Law, Wills & Probate, Estate Planning, Estate

Status: In Good Standing

CONTACT

43 Chester Hill Rd, Warwick, NY 10990

800-923-0641

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LEGAL TERMS

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.

SPRINKLING TRUST

A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

STATUTORY SHARE

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceas... (more...)

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse's property, but in some states the exact amount of the spouse's share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.

INVENTORY

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or admini... (more...)

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or administrator of the estate is responsible for making and filing the inventory.

GENERATION-SKIPPING TRUST

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income fro... (more...)

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income from the trust. Because the children (the middle generation) never legally own the property, it isn't subject to estate tax at their death. See generation-skipping transfer tax.

SUCCESSION

The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which d... (more...)

The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which determine who inherits property when someone dies without a valid will. When used in connection with real estate, the word refers to the passing of property by will or inheritance, as opposed to gift, grant, or purchase.

NONPROBATE

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surv... (more...)

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surviving spouse and property left outside of a will through probate-avoidance methods such as pay-on-death designations, joint tenancy ownership, living trusts and life insurance. Property that avoids probate is sometimes described as the 'nonprobate estate.' Nonprobate distribution may also occur if the deceased person leaves an invalid will. In that case, property will pass according to the particular state's laws of intestate succession.

AB TRUST

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of... (more...)

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of the property goes to the beneficiaries named in the trust -- commonly, the grown children of the couple -- with the crucial condition that the surviving spouse has the right to use the property for life and is entitled to any income it generates. The surviving spouse may even be allowed to spend principal in certain circumstances. When the surviving spouse dies, the property passes to the trust beneficiaries. It is not considered part of the second spouse's estate for estate tax purposes. Using this kind of trust keeps the second spouse's taxable estate half the size it would be if the property were left directly to the spouse. This type of trust is also known as a bypass or credit shelter trust.

LAPSE

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. S... (more...)

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. Some states have anti-lapse statutes, which prevent gifts to relatives of the deceased person from lapsing unless the relative has no heirs of his or her own. A lapsed gift becomes part of the residuary estate.

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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Smallwood Estate Planning Lawyer, New York

Sponsored Law Firm

Ballon Stoll PC

SPONSORED LAWYERS

Suzan Dann Paras

Arthur Shapiro

Richard B Golden

Jason Rosenwasser

Marcia A. Jacobowitz

Theodore Richard Rogowski

Erno C. Poll

Scott R. Goldstein

Charles A Judelson

Sarah Jane Fetherston

TIPS

LEGAL TERMS

SPENDTHRIFT TRUST

SPRINKLING TRUST

STATUTORY SHARE

INVENTORY

GENERATION-SKIPPING TRUST

SUCCESSION

NONPROBATE

AB TRUST

LAPSE

SAMPLE LEGAL CASES

Schneider v. Finmann

Fielding v. Kupferman

Kram Knarf, LLC v. Djonovic

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