Covington Trusts Lawyer, Virginia

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Seth Price
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Price Benowitz LLP
409 7Th St Nw Suite 200 Washington, DC 20004Â» view map
Estate Law
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Our firm was built on the understanding that comprehensive representation does not begin and end in the courtroom.

202-600-9400
1. Seth Price Washington, DC
  Attorney at Law- DC, 1996
  George Washington University Law School
2. AboutPrice Benowitz LLP
  Working Relentlessly for You
3. Practice AreasExpertise
  Estate Law
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S.J. Robert Slemp

Elder Law, Estate Planning, Wills & Probate, Trusts

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FREE CONSULTATION

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310 South Jefferson Street, Roanoke, VA 24011

Karl William Uotinen

Power of Attorney, Health Care, Wills, Trusts

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CONTACT

Fincastle, VA 24090

H T Carmichael

Other, Real Estate, Trusts, Gift Taxation

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619 Stonewall St, Lexington, VA 24450

John Kemper Prillaman

Real Estate, Corporate, Trusts

Status: Licensed: 18 Years

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Roanoke Redevelopment and Housing Authority, Roanoke, VA 24017

Robert Britton Armstrong

Real Estate, Legal Malpractice, Trusts, Military

Status: Licensed: 63 Years

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3 Mcdowell Street, Lexington, VA 24450

Gina Lauterio

Trusts, Real Estate

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Lexington, VA 24450

Lenden Alan Eakin

Accident & Injury, Estate, Lawsuit & Dispute, Trusts, Workers' Compensation

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22 Luck Avenue, S.W., Roanoke, VA 24011

Lauren Stockburger Eells

Tax, Business & Trade, Wills & Probate, Trusts

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CONTACT

10 Franklin Road, Se, Roanoke, VA 24011

Carmichael

Real Estate, Trusts

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CONTACT

619 Stonewall St, Lexington, VA 24450

800-814-6700

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LEGAL TERMS

GENERATION-SKIPPING TRANSFER TAX

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 ... (more...)

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.

TRUST CORPUS

Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, t... (more...)

Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, that money is the corpus. Sometimes the trust corpus is known as the 'res,' a Latin word meaning 'thing.'

GRANTOR RETAINED INCOME TRUST

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for ... (more...)

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years. When the trust ends, the property goes to the final beneficiaries you've named. These trusts are for people who have enough wealth to feel comfortable giving away a substantial hunk of property. They come in three flavors: Grantor-Retained Annuity Trusts (GRATs), Grantor-Retained Unitrusts (GRUTs) and Grantor-Retained Income Trusts (GRITs).

EXECUTOR

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's... (more...)

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.

ABATEMENT

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other exp... (more...)

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other expenses. Gifts left in the will are cut back in order to pay taxes, satisfy debts or take care of other gifts that are given priority under law or by the will itself.

SPECIFIC BEQUEST

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequ... (more...)

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequest fails. In other words, the beneficiary cannot substitute a similar item in the estate. Example: If John leaves his 1954 Mercedes to Patti, and when John dies the 1954 Mercedes is long gone, Patti doesn't receive John's current car or the cash equivalent of the Mercedes. See ademption.

WILL

A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for you... (more...)

A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for your young children.

INTER VIVOS TRUST

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

ENTITY

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from i... (more...)

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, estate or government agency. The entity is treated like a person; it can function legally, be sued, and make decisions through agents.

SAMPLE LEGAL CASES

Dodge v. Randolph-Macon Woman's College

... The Attorney General shall have the same authority to act on behalf of the public with respect to such assets as he has with respect 808 to assets held by unincorporated charitable trusts and other charitable entities, including the authority to seek such judicial relief as may be ...

Ladysmith Rescue Squad, Inc. v. Newlin

... At that point, the trustees, the two surviving income beneficiaries and Upper Caroline (the moving parties) moved the court to authorize the trustees to divide the trust into two equal trusts, to be called the "Upper Caroline Trust" and the "Ladysmith Trust." Ladysmith objected to the ...

RUSSELL REALTY ASSOCIATES v. Russell

... The partnership interests were held by Charles Russell, Eddie, individually, and Eddie and Nina as co-trustees of the trusts created for the benefit of Nina and her two sons. Between 1978 and 1985, Charles Russell decreased his partnership interest. ...

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Covington Trusts Lawyer, Virginia

Sponsored Law Firm

Price Benowitz LLP

SPONSORED LAWYERS

S.J. Robert Slemp

Karl William Uotinen

H T Carmichael

John Kemper Prillaman

Robert Britton Armstrong

Gina Lauterio

Lenden Alan Eakin

Lauren Stockburger Eells

Carmichael

TIPS

LEGAL TERMS

GENERATION-SKIPPING TRANSFER TAX

TRUST CORPUS

GRANTOR RETAINED INCOME TRUST

EXECUTOR

ABATEMENT

SPECIFIC BEQUEST

WILL

INTER VIVOS TRUST

ENTITY

SAMPLE LEGAL CASES

Dodge v. Randolph-Macon Woman's College

Ladysmith Rescue Squad, Inc. v. Newlin

RUSSELL REALTY ASSOCIATES v. Russell

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