North Evans Estate Planning Lawyer, New York, page 3

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Abraham Michelson
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The Michelson Law Office
203 North Lasalle Street Suite 2100 Chicago, IL 60601Â» view map
Bankruptcy, Chapter 7, Chapter 13
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800-824-6431
1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
2. AboutAbraham Michelson
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Includes: Gift Taxation

Eric Samuel Bernhardt

Litigation, Estate Planning, Insurance, Products Liability

Status: Licensed: 22 Years

CONTACT

1300 Liberty Building, Buffalo, NY 14202

Todd Christopher Bushway

Litigation, Government, Estate Planning, Products Liability

Status:

CONTACT

1300 Liberty Building, Buffalo, NY 14202

Edward Charles Robinson

Visa, Estate Planning, Estate, Employment Discrimination, Elder Law

Status:

CONTACT

1300 Liberty Building, Buffalo, NY 14202

Patricia Ann Rauh

Trusts, Estate Planning, Medicare & Medicaid, Wills & Probate, Estate

Status:

CONTACT

1300 Liberty Building, Buffalo, NY 14202

Daniel J. Sperrazza

Commercial Real Estate, Estate Planning, Child Custody, Business, Family Law

Status: Licensed: 41 Years

CONTACT

43 Court St, Buffalo, NY 14202

Earl Kenneth Cantwell

Litigation, Estate Planning, Business & Trade, Products Liability

Status: Licensed: 10 Years

CONTACT

500 Pearl St, Buffalo, NY 14202

Valerie L. Stanek

Power of Attorney, Mediation, Family Law, Elder Law, Estate Planning

Status: Licensed: 10 Years

CONTACT

50 Fountain Plaza, Buffalo, NY 14202

James Philip Burgio

Lawsuit & Dispute, Business, Litigation, Estate Planning, Family Law

Status:

CONTACT

496 Main St, Buffalo, NY 14202

Thomas P. Spellane

International Tax, Estate Planning, Estate

Status:

CONTACT

170 Franklin St, Buffalo, NY 14202

B P. Oliverio

Estate Planning, Civil Rights, Corporate, Bankruptcy, Residential Real Estate

Status: Licensed: 46 Years

CONTACT

174 Franklin St, Buffalo, NY 14202

800-814-6700

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LEGAL TERMS

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.

GROSS ESTATE

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.

MARITAL LIFE ESTATE TRUST

See AB trust.

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

BANKRUPTCY ESTATE

All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankrup... (more...)

All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankruptcy estate for the duration of your case.

ALTERNATE BENEFICIARY

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to ... (more...)

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to take the property. For example, in his will Jake leaves his collection of sheet music to his daughter, Mia, and names the local symphony as alternate beneficiary. When Jake dies, Mia decides that the symphony can make better use of the sheet music than she can, so she refuses (disclaims) the gift, and the manuscripts pass directly to the symphony. In insurance law, the alternate beneficiary, usually the person who receives the insurance proceeds because the initial or primary beneficiary has died, is called the secondary or contingent beneficiary.

INTESTATE SUCCESSION

The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest s... (more...)

The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest surviving relatives. In most states, the surviving spouse, children, parents, siblings, nieces and nephews, and next of kin inherit, in that order.

CERTIFIED COPY

A copy of a document issued by a court or government agency guaranteed to be a true and exact copy of the original. Many agencies and institutions require certi... (more...)

A copy of a document issued by a court or government agency guaranteed to be a true and exact copy of the original. Many agencies and institutions require certified copies of legal documents before permitting certain transactions. For example, a certified copy of a death certificate is required before a bank will release the funds in a deceased person's payable-on-death account to the person who has inherited them.

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.

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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North Evans Estate Planning Lawyer, New York, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Eric Samuel Bernhardt

Todd Christopher Bushway

Edward Charles Robinson

Patricia Ann Rauh

Daniel J. Sperrazza

Earl Kenneth Cantwell

Valerie L. Stanek

James Philip Burgio

Thomas P. Spellane

B P. Oliverio

TIPS

LEGAL TERMS

SUCCESSION

GROSS ESTATE

MARITAL LIFE ESTATE TRUST

CONTINGENT BENEFICIARY

BANKRUPTCY ESTATE

ALTERNATE BENEFICIARY

INTESTATE SUCCESSION

CERTIFIED COPY

GENERATION-SKIPPING TRANSFER TAX

SAMPLE LEGAL CASES

Schneider v. Finmann

Fielding v. Kupferman

Kram Knarf, LLC v. Djonovic

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