Ninde Estate Planning Lawyer, Virginia, page 3

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Seth Price
About | Practice Areas
Price Benowitz LLP
409 7Th St Nw Suite 200 Washington, DC 20004Â» view map
Estate Law
Working Relentlessly For You

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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2. Email
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Includes: Gift Taxation

Ryan Joseph Voorhees

Corporate, Trusts, Gift Taxation

Status: In Good Standing Licensed: 12 Years

CONTACT

6184 Edsall Rd, Alexandria, VA 22304

Joseph Gerard Lynch

Commercial Real Estate, International, Estate Planning, Business & Trade

Status: In Good Standing

CONTACT

9204 Byron Terrace, Burke, VA 22015

Joseph Gerard Lynch

Commercial Real Estate, Estate Planning, Business & Trade, Business

Status: In Good Standing

CONTACT

9204 Byron Terrace, Burke, VA 22015

George H. Lowe

Contract, Estate Planning, Business & Trade

Status: Suspended

CONTACT

324 Cameron Station Blvd, Alexandria, VA 22304

Byoung Jo Kang

Corporate Tax, Tax, International, Gift Taxation

Status: In Good Standing Licensed: 13 Years

CONTACT

3135 Mt Vernon Ave, Alexandria, VA 22305

Andrew John Brewster

Tax, Gift Taxation, Family Law

Status: In Good Standing Licensed: 20 Years

CONTACT

5038 Cliffhaven Dr, Annandale, VA 22003

Sue Santa

State Government, Gift Taxation, Corporate

Status: In Good Standing

CONTACT

1840 Carpenter Rd, Dhs, VA 22314

Norman G. Schneider

Estate Planning, Family Law, Personal Injury, Medical Malpractice

Status: In Good Standing Licensed: 36 Years

CONTACT

4900 Leesburg Pike, Dhs, VA 22302

Katheryn Anne Steinberg

Landlord-Tenant, Estate Planning, Estate, Family Law

Status: In Good Standing Licensed: 17 Years

CONTACT

207 E Glebe Rd, Alexandria, VA 22305

Walter Hong Woo

Gift Taxation, Tax

Status: In Good Standing Licensed: 53 Years

CONTACT

9000 Fox Lair Dr, Burke, VA 22015

800-923-0641

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LEGAL TERMS

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.

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.

TRUSTEE POWERS

The provisions in a trust document defining what the trustee may and may not do.

SPECIAL ADMINISTRATOR

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a spe... (more...)

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a special administrator with particular expertise on art might be appointed to oversee the probate of a wealthy person's art collection, but not the entire estate. (2) A person appointed to be responsible for a deceased person's property for a limited time or during an emergency, such as a challenge to the will or to the qualifications of the named executor. In such cases, the special administrator's duty is to maintain and preserve the estate, not necessarily to take control of the probate process

BYPASS TRUST

A trust designed to lessen a family's overall estate tax liability. An AB trust is the most popular kind of bypass trust.

INTER VIVOS TRUST

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

EXEMPTION TRUST

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth m... (more...)

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest is shielded from tax under the surviving spouse's marital deduction.

SELF-PROVING WILL

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-prov... (more...)

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-proving when two witnesses sign under penalty of perjury that they observed the willmaker sign it and that he told them it was his will. If no one contests the validity of the will, the probate court will accept the will without hearing the testimony of the witnesses or other evidence. To make a self-proving will in other states, the willmaker and one or more witnesses must sign an affidavit (sworn statement) before a notary public certifying that the will is genuine and that all willmaking formalities have been observed.

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.

SAMPLE LEGAL CASES

Ott v. L & J HOLDINGS, LLC

... Lou Ann consulted Glenn H. Goodpasture, a Fredericksburg attorney, who formed an entity called L & J Holdings, LLC (L & J) to accomplish her purpose. Lou Ann had also consulted R. Leigh Frackleton, Jr., Goodpasture's law partner, with respect to estate planning. ...

Keener v. Keener

... More than four years before his death, the testator consulted an attorney specializing in estate planning, who prepared a "pour-over" will that left all the testator's property to the "Hollis Grant Keener Revocable Living Trust" (the trust). ...

Campbell v. Campbell

... App. 580, 586, 397 SE2d 257, 261 (1990). "[G]ifts to family members c[an] be considered dissipation," but a "pattern of pre-separation giving as a part of estate planning" can provide evidence to support a finding that the giving was not done in anticipation of divorce. ...

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Ninde Estate Planning Lawyer, Virginia, page 3

Sponsored Law Firm

Price Benowitz LLP

SPONSORED LAWYERS

Ryan Joseph Voorhees

Joseph Gerard Lynch

Joseph Gerard Lynch

George H. Lowe

Byoung Jo Kang

Andrew John Brewster

Sue Santa

Norman G. Schneider

Katheryn Anne Steinberg

Walter Hong Woo

TIPS

LEGAL TERMS

GROSS ESTATE

LAPSE

TRUSTEE POWERS

SPECIAL ADMINISTRATOR

BYPASS TRUST

INTER VIVOS TRUST

EXEMPTION TRUST

SELF-PROVING WILL

AB TRUST

SAMPLE LEGAL CASES

Ott v. L & J HOLDINGS, LLC

Keener v. Keener

Campbell v. Campbell

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