North Canton Estate Planning Lawyer, Connecticut, page 3

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Andrew Amendola
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Andrew M Amendola, Attorney at Law
591 Thompson Avenue East Haven, CT 06512» view map
Accident & Injury, Criminal, Estate, Real Estate
Where Every Client Matters

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800-942-4780
1. Andrew Amendola East Haven, CT
  Attorney at Law, CT
2. AboutAndrew M Amendola, Attorney at Law
  Where Every Client Matters
3. Practice AreasExpertise
  Accident & Injury, Criminal, Estate, Real Estate
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Includes: Gift Taxation

John H. Goodrich

Real Estate, Trusts, Estate Planning, Family Law

Status: Deceased Licensed: 54 Years

CONTACT

1344 Silas Deane Highway, Rocky Hill, CT 06067

Barry D. Horowitz

Estate Planning, Family Law, Child Custody, Elder Law

Status: In Good Standing

CONTACT

200 Glastonbury Boulevard, Glastonbury, CT 06033

Eric L. Green

Tax, Gift Taxation, Estate Planning, Business

Status: In Good Standing

CONTACT

701 Hebron Avenue, Glastonbury, CT 06033

Jeffrey M. Sklarz

Litigation, Gift Taxation, Employment, Bankruptcy

Status: In Good Standing

CONTACT

701 Hebron Avenue, Glastonbury, CT 06033

800-923-0641

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LEGAL TERMS

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.

TRUSTEE POWERS

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

MARITAL LIFE ESTATE TRUST

See AB trust.

SPRINKLING TRUST

A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

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.

DISINHERIT

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit prope... (more...)

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit property -- a close family member, for example -- should not receive it. In most states, you cannot completely disinherit your spouse; a surviving spouse has the right to claim a portion (usually one-third to one-half) of the deceased spouse's estate. With a few exceptions, however, you can expressly disinherit children.

ESTATE TAXES

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and... (more...)

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and whether or not it goes through probate after your death, is subject to federal estate tax. Currently, however, federal estate tax is due only if your property is worth at least $2 million when you die. The estate tax is scheduled to be repealed for one year, in 2010, but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.

LIVING TRUST

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the t... (more...)

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the trust during your life passes directly to the trust beneficiaries after you die, without court involvement. The successor trustee--the person you appoint to handle the trust after your death--simply transfers ownership to the beneficiaries you named in the trust. Living trusts are also called 'inter vivos trusts.'

INVESTOR

A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes invest... (more...)

A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes investments for others who have entrusted her with their money.

SAMPLE LEGAL CASES

Przekopski v. Przekop

... defendants' appeal. The plaintiff and Barbara Przekop are siblings and the children of the decedent. Prior to the decedent's death, he had used survivorship bank accounts as a means of estate planning. He had established ...

PRZEKOPSKI v. PRZEKOP

State v. Coccomo

... For instance, the transfer of property may be done for many legitimate purposes, such as estate planning, gifts to children, or a bona fide sale to an independent third party. The act of the transfer in the present case does not imply the fact to be inferredâ€”that of a guilty mind. ...

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North Canton Estate Planning Lawyer, Connecticut, page 3

Sponsored Law Firm

Andrew M Amendola, Attorney at Law

SPONSORED LAWYERS

John H. Goodrich

Barry D. Horowitz

Eric L. Green

Jeffrey M. Sklarz

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LEGAL TERMS

TRUST DEED

TRUSTEE POWERS

MARITAL LIFE ESTATE TRUST

SPRINKLING TRUST

GROSS ESTATE

DISINHERIT

ESTATE TAXES

LIVING TRUST

INVESTOR

SAMPLE LEGAL CASES

Przekopski v. Przekop

PRZEKOPSKI v. PRZEKOP

State v. Coccomo

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