Bellerose Estate Lawyer, New York, page 2

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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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Bruce A. Blakeman

Banking & Finance, Estate Planning, Family Law, Real Estate

Status: In Good Standing

CONTACT

1111 Marcus Avenue, New Hyde Park, NY 11042

Robert Abrams

Trusts, Estate Planning, Estate, Elder Law

Status: In Good Standing

CONTACT

1111 Marcus Avenue, New Hyde Park, NY 11042

Dorothy J. Santos

Bankruptcy, Estate Administration, Estate Planning

Status: In Good Standing

CONTACT

1111 Marcus Avenue, New Hyde Park, NY 11042

Claudio A. De Vellis

Business Successions, Gift Taxation, Estate Planning, Tax

Status: In Good Standing

CONTACT

1111 Marcus Avenue, New Hyde Park, NY 11042

Steven J. Eisman

Divorce, Estate Planning, Family Law, Litigation

Status: In Good Standing

CONTACT

1111 Marcus Avenue, New Hyde Park, NY 11042

Elihu I. Rose

Income Tax, Estate Administration, Gift Taxation, Estate Planning

Status: In Good Standing

CONTACT

1983 Marcus Avenue, New Hyde Park, NY 11042

Moriah Adamo

Bankruptcy, Estate Planning, Guardianships & Conservatorships, Litigation

Status: In Good Standing

CONTACT

3 Dakota Drive, Lake Success, NY 11042

Massimo A. Santoli

International, Trusts, Estate Planning, Estate

Status: In Good Standing

CONTACT

1010 Northern Blvd., Great Neck, NY 11021

Arfa Mahmud

Estate Planning, Trusts

Status: In Good Standing

CONTACT

1010 Northern Blvd., Great Neck, NY 11021

John M. Farrell

Other, Real Estate, Estate

Status: In Good Standing

CONTACT

1010 Northern Blvd., Great Neck, NY 11021

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LEGAL TERMS

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).

DISCHARGE (OF PROBATE ADMINISTRATOR)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties hav... (more...)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties have been completed but may happen sooner if the executor or administrator wishes to withdraw or is dismissed.

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.

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.

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.

TAKING AGAINST THE WILL

A procedure under state law that gives a surviving spouse the right to demand a certain share (usually one-third to one-half) of the deceased spouse's property.... (more...)

A procedure under state law that gives a surviving spouse the right to demand a certain share (usually one-third to one-half) of the deceased spouse's property. The surviving spouse can take that share instead of accepting whatever he or she inherited through the deceased spouse's will. If the surviving spouse decides to take the statutory share, it's called 'taking against the will.' Dower and curtesy is another name for the same legal process.

IRREVOCABLE TRUST

A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.

CREDIT SHELTER TRUST

See AB trust.

INHERITANCE TAXES

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited prop... (more...)

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited property.

SAMPLE LEGAL CASES

Step-Murphy, LLC v. B&B Brothers Real Estate Corp.

In 1986 Markatos Realtors, Inc. (hereinafter Markatos), Rutger's immediate predecessor in interest, along with Brookside Park Properties, Inc., the defendant's predecessor in interest, executed a written indenture providing, among other things, for mutual easements designating 12 ...

Colasacco v. Robert E. Lawrence Real Estate

In October 2002 the defendant Christopher DiCorato, a real estate agent employed by the defendant Robert E. Lawrence Real Estate (hereinafter Lawrence, and hereinafter together the defendants), met with the plaintiffs and showed them a parcel of vacant property that was ...

Kerusa Co. LLC v. W10Z/515 Real Estate Ltd. Partnership

In any event, plaintiff fails, as a matter of law, to demonstrate any injury for which it is entitled to hold defendant sponsors liable. Although the purchase agreement obligated defendant sponsors to provide plaintiff with a building and unit constructed "in a good and workman-like ...

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Bellerose Estate Lawyer, New York, page 2

Sponsored Law Firm

Ballon Stoll PC

SPONSORED LAWYERS

Bruce A. Blakeman

Robert Abrams

Dorothy J. Santos

Claudio A. De Vellis

Steven J. Eisman

Elihu I. Rose

Moriah Adamo

Massimo A. Santoli

Arfa Mahmud

John M. Farrell

TIPS

LEGAL TERMS

GRANTOR RETAINED INCOME TRUST

DISCHARGE (OF PROBATE ADMINISTRATOR)

EXECUTOR

AB TRUST

SPENDTHRIFT TRUST

TAKING AGAINST THE WILL

IRREVOCABLE TRUST

CREDIT SHELTER TRUST

INHERITANCE TAXES

SAMPLE LEGAL CASES

Step-Murphy, LLC v. B&B Brothers Real Estate Corp.

Colasacco v. Robert E. Lawrence Real Estate

Kerusa Co. LLC v. W10Z/515 Real Estate Ltd. Partnership

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