Bogota Estate Planning Lawyer, New Jersey, page 2

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Includes: Gift Taxation

Terrence J. Corriston

Land Use & Zoning, Government Agencies, Estate Planning, Family Law
Status:  In Good Standing           Licensed:  38 Years

Steven Leipzig

Tax, Trusts, Estate Planning, Estate
Status:  In Good Standing           

Celina Moonkyung Cho

International, Immigration, Gift Taxation, Business
Status:  In Good Standing           Licensed:  20 Years

Samuel Hartstein

Real Estate, Estate Planning, Banking & Finance, Personal Injury
Status:  In Good Standing           Licensed:  50 Years

Amy Mac Isaac

Elder Law, Estate Planning
Status:  In Good Standing           

Savyon Grant

Estate Planning, Alimony & Spousal Support, Divorce, DUI-DWI
Status:  In Good Standing           Licensed:  32 Years

Paul Garjian

Commercial Real Estate, Mediation, Immigration, Estate Planning
Status:  In Good Standing           

Peter John Bakarich

Estate, Power of Attorney, International Tax, Estate Planning, Estate
Status:  In Good Standing           Licensed:  45 Years

Moon K Cho

International, Immigration, Gift Taxation, Business & Trade
Status:  In Good Standing           Licensed:  20 Years

Joseph Marra

Elder Law, Estate Planning
Status:  In Good Standing           

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Free Help: Use This Form or Call 800-943-8690

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LEGAL TERMS

PROBATE

The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased pers... (more...)
The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased person's affairs identifying and inventorying the deceased person's property paying debts and taxes identifying heirs, and distributing the deceased person's property according to the will or, if there is no will, according to state law. Formal court-supervised probate is a costly, time-consuming process -- a windfall for lawyers -- which is best avoided if possible.

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.

FINAL BENEFICIARY

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jan... (more...)
The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jane receives income for the duration of her life. Their daughter, the final beneficiary, receives the trust principal after Jane's death.

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.

TRUSTEE

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income ... (more...)
The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income or principal as directed in the trust document. With a simple probate-avoidance living trust, the person who creates the trust is also the trustee.

REMAINDERMAN

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderma... (more...)
Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderman because he will inherit the home in the future, after Alma dies.

ESTATE PLANNING

The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your... (more...)
The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your estate may involve making a will, living trust, healthcare directives, durable power of attorney for finances or other documents.

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.

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.

SAMPLE LEGAL CASES

Shotmeyer v. NJ Realty Title Ins. Co.

... or conveyance of such estate or interest. . . . As part of their estate planning, the Shotmeyers formed the limited partnership, Beaver Run Farms, LP, on December 30, 1991. SB Properties, Inc., a corporation owned jointly and ...

In re Estate of Stockdale

953 A.2d 454 (2008). 196 NJ 275. In the Matter of the ESTATE OF Madeleine L. STOCKDALE, Deceased. A-121 September Term 2006. Supreme Court of New Jersey. Argued October 9, 2007. Decided July 22, 2008. 457 Frederick ...

Finderne Mgmt. Co. v. Barrett

... The brothers agreed that additional estate planning strategies "such as retitling assets, new wills, new trusts, and some other financial planning" techniques were necessary to "reduce the estate tax[es] down to a meaningful level" and, in planning for their retirement, to provide a ...