Fishs Eddy Trusts 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
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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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Gary A. Rosa

Wills, Wills & Probate, Trusts, Corporate

Status: In Good Standing

CONTACT

835 Main Street, Margaretville, NY 12455

Alexandra Norton Sullivan

Residential Real Estate, Wills, Trusts, Commercial Bankruptcy

Status: In Good Standing Licensed: 9 Years

CONTACT

80 Exchange St, Binghamton, NY 13901

Angelina Cutrona

Landlord-Tenant, Trusts, Employee Rights, Divorce, Bankruptcy

Status: In Good Standing

CONTACT

46 Front St, Binghamton, NY 13905

Bryan Robert Smith

Construction, Litigation, Trusts, Employee Rights

Status: In Good Standing Licensed: 26 Years

CONTACT

11 3Rd St, Deposit, NY 13754

Catherine Rose Faughnan

Commercial Real Estate, Trusts, Family Law, Contract

Status: In Good Standing Licensed: 18 Years

CONTACT

12 Ardsley Rd, Binghamton, NY 13904

Catherine Rose Faughnan

Contract, Family Law, Trusts, Commercial Real Estate

Status: In Good Standing

CONTACT

12 Ardsley Rd, Binghamton, NY 13904

David Hosse

Banking & Finance, Wills & Probate, Trusts, Power of Attorney

Status: In Good Standing

CONTACT

1002 County Rd 95, North Branch, NY 12766

Debra Jean Cohn

Trusts, Divorce, Divorce & Family Law, Elder Law

Status: In Good Standing Licensed: 17 Years

CONTACT

68 Oak St, Binghamton, NY 13905

Erin Alisha Cummings

Estate, Wills & Probate, Trusts

Status: In Good Standing Licensed: 16 Years

CONTACT

700 Security Mutual Building, Binghamton, NY 13901

Gary Paul Gottlieb

General Practice

Status: In Good Standing Licensed: 39 Years

CONTACT

1966 State Route 52, Liberty, NY 12754

800-923-0641

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LEGAL TERMS

AUGMENTED ESTATE

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used on... (more...)

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used only in some states. Its value is calculated only if a surviving spouse declines whatever he or she was left by will and instead claims a share of the deceased spouse's estate. (This is called taking against the will.) The amount of this 'statutory share' or 'elective share' depends on state law.

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.

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.

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.

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.

DEATH TAXES

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who... (more...)

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who inherit property.

QTIP TRUST

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the... (more...)

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.

GRANTOR

Someone who creates a trust. Also called a trustor or settlor.

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.

SAMPLE LEGAL CASES

Tzolis v. Wolff

... Chancellor Walworth applied to a joint stock corporation â€” then a fairly new kind of entity â€” a familiar principle of the law of trusts: that a beneficiary (or "cestui que trust") could bring suit on behalf of a trust when a faithless trustee refused to do so. ...

IN THE MATTER OF DE SANCHEZ

... In 1927, two years before the Great Depression, Elizabeth Laurent de Sanchez, whose family owned a sugar plantation in Cuba, set up seven inter vivos trusts for the benefit of her six childrenâ€”Emilio (two trusts in his name), Jorge, Julio, Marcelo, Maria and Gabriela. ...

Matter of Mergenhagen

... as appealed from is unanimously reversed on the law without costs, 1487 the petitions are granted in part, the termination of trust dated October 10, 1994 is vacated, respondent David M. Mergenhagen is removed as trustee from the 1991 and 1994 irrevocable trusts, he is ...

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Fishs Eddy Trusts Lawyer, New York

Sponsored Law Firm

Ballon Stoll PC

SPONSORED LAWYERS

Gary A. Rosa

Alexandra Norton Sullivan

Angelina Cutrona

Bryan Robert Smith

Catherine Rose Faughnan

Catherine Rose Faughnan

David Hosse

Debra Jean Cohn

Erin Alisha Cummings

Gary Paul Gottlieb

TIPS

LEGAL TERMS

AUGMENTED ESTATE

NONPROBATE

CERTIFIED COPY

LAPSE

TRUST DEED

DEATH TAXES

QTIP TRUST

GRANTOR

SPECIFIC BEQUEST

SAMPLE LEGAL CASES

Tzolis v. Wolff

IN THE MATTER OF DE SANCHEZ

Matter of Mergenhagen

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